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Faster energy shift could triple South Korea's job creation this decade, outweighing coal job losses
(Eco Business, 29 Jul 2021) Green employment opportunities unlocked by Paris-aligned energy transition will make up for job losses in the wake of coal plant closures, new study shows.
Phasing out coal power in South Korea by 2029 in alignment with international climate goals and replacing the dirty fuel with solar, wind and storage could deliver nearly three times more direct jobs this decade than current policy plans, according to a new analysis released today.
The report, by Seoul-based climate policy group Solutions for Our Climate and Berlin-headquartered research organisation Climate Analytics, debunks long-standing fears that consigning fossil fuel burning to the past too soon, could have detrimental effects on labour markets and the economy.
It finds that employment opportunities in emerging green energy are forecast to outweigh job losses from coal plant closures in all provinces and metropolitan areas across the East Asian state, even those heavily reliant on the coal power sector.
“The overall job creation potential in the operation and maintenance of newly installed renewable and storage installations alone could outweigh the job losses from closing all coal power plants across South Korea by 2029,” the report said.
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Eco Business, 29 Jul 2021: Faster energy shift could triple South Korea's job creation this decade, outweighing coal job losses
