South Korea, the fastest-growing emitter among rich nations, will try again to pass a bill that sets up emissions trading in 2015 and allows lawmakers to work out details later this year, a top climate official said.

The country, which delayed a decision on February 27 about legislation to start cap-and-trade, is working to reschedule the vote, with a target of April or May, Nam Kwang Hee, director general of the Presidential Committee on Green Growth, said in an interview. The main parties have agreed that emissions trading will reduce greenhouse gases linked to climate change, so the debate is focused on “procedures,” said Nam, 51.

South Korea would follow Australia and New Zealand as the third country in the Asia Pacific region to use a cap and trade, a system that lets emitters buy and sell a fixed number of pollution permits. The Federation of Korean Industries and the Korea Chamber of Commerce & Industry, the nation’s largest business lobbies, have asked the government to delay the plan, saying it will increase costs and make them less competitive against countries that don’t charge for emissions.

[Via] Eco-Business