IBK Investment Securities said on Feb. 24 it signed a memorandum of understanding with NAMU EnR to strengthen cooperation on responding to the European Union's carbon border adjustment mechanism (CBAM) and on carbon markets.
The EU-CBAM is a system under which the EU calculates emissions and imposes costs when importing products such as steel, aluminium, cement and fertiliser that have high greenhouse gas emissions during production.
The two companies will cooperate in various areas, including sharing and jointly analysing domestic and overseas carbon market information, establishing response strategies for the EU-CBAM, brokering exchange-traded and over-the-counter spot and futures carbon emission allowances and carbon credits, and jointly holding forums and seminars related to carbon markets.
Eom Seong-il (엄성일), head of the Carbon Finance Division at IBK Investment Securities, said cooperation between finance and carbon and energy market specialists will play an important role in easing companies' practical burdens and securing competitiveness as global carbon regulation strengthens.
Sang-yeop Oh
yub@d-today.co.kr