The Korean Register of Shipping (KR) – an IACS member classification society – has been authorized by the Ministry of Environment of the Republic of Korea as a verification body for its pilot greenhouse gas emissions trading scheme. The scheme was launched on 1 January 2010 to provide a base for the country’s voluntary 2020 emissions reduction target. Under the authorization, KR will give an independent verification of the greenhouse gas emissions assertions made by various public and private organizations participating in the scheme and provide assurances that their greenhouse gas emissions monitoring, measuring and inventory activities are properly managed and recorded.