ANALYSIS-Jobs come first in S.Korea's ambitious 'Green New Deal' climate plan

(Reuters, 8 Jun 2020) Activists say government plans announced since proposing the deal do not directly address a pledge to reach net-zero emissions by 2050, or to end coal financing.

The first stages of a South Korean government "Green New Deal" aiming to retool one of the world's most fossil fuel-reliant economies is focused instead on protecting jobs as the country seeks to stimulate a virus-ravaged economy, activists say.

First proposed by President Moon Jae-in's ruling party ahead of the April parliamentary election, the Green New Deal set ambitious goals of net-zero emissions by 2050, an end to financing of overseas coal plants, and the introduction of a carbon tax.

But activists say that government plans announced since then do not directly address Moon's pledge to reach net-zero emissions, or to end to coal financing.

An initial parliamentary proposal calls for an investment of 12.9 trillion won ($10.5 billion) over the next two years, with the focus on the creation of 133,000 jobs.

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Reuters, 8 Jun 2020: ANALYSIS-Jobs come first in S.Korea's ambitious 'Green New Deal' climate plan