Posted on 02 November 2020
Korea commits to achieving net-zero emissions by 2050.
(2 November, 2020) - Last week, in a key policy speech to the Korean National Assembly, President Moon Jae-in announced the country will commit to achieving carbon neutrality by 2050.
Reacting to the announcement, WWF-Korea Executive Director Dr. YoonHee Hong
said, “The commitments are game-changing, and will boost global efforts to address the climate crisis.
“This is also a signal for all domestic sectors, especially the heavy energy users like the power, industry, transport and heating sectors, to also become carbon neutral by 2050.
It is also urgent and necessary to align policies and measures, especially those which can accelerate financial flows alignment with the Paris Agreement, so that investments can lead necessary changes in the market where industries need to develop decarbonization roadmaps, she said.
“To start, Korean economic players who need to actualize the changes to set their “NDCs”, so have done more than 1,000 companies and financial institutions in the world via the Science Based Targets initiative.”
Manuel Pulgar-Vidal, WWF’s global climate and energy lead
, said: “It is heartening to see Korea committing to net-zero emissions by 2050. Climate leaders like Korea are helping to set the pace and should an inspiration for their Asian peers to strengthen their climate commitments too.
“To continue its leadership, we now expect to see the government following up by submitting, by December this year, an equally ambitious national climate plan which includes scaling up renewable energy and increasing nature-based solutions”.
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