Is South Korea on the right path to carbon neutrality?

(Eco Business, 4 Dec 2020) Grass roots momentum has pushed the central government to pledge carbon neutrality by 2050, but it could count for little if the country fails to stop coal investment and set an enhanced 2030 target.

On 28 October, President Moon Jae-in stated South Korea would achieve net-zero carbon emissions by 2050. This came hot on the heels of Japanese prime minister, Yoshihide Suga, announcing the same, and China’s pledge of net-zero by 2060. These commitments, from the three largest economies in East Asia, have generated global interest.

Antonio Guterres, secretary-general of the United Nations, praised the announcement in a statement: “This is a very positive step in the right direction after Korea’s exemplary Green New Deal.”

Back in July, the South Korean government had announced an ambitious US$65 billion “Green New Deal” but stopped short of setting a carbon-neutral target. How did South Korea finally establish the target, and what are the prospects for it being reached?

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Eco Business, 4 Dec 2020: Is South Korea on the right path to carbon neutrality?