South Korea announces three key tasks to attain carbon neutrality

The primary initiatives for 2023 to advance the adoption of carbon neutrality were unveiled by the South Korean Ministry of Environment on January 31, 2023. By the following three primary tasks, it was designed to promote green sectors and exploit them as new growth opportunities:

1. Enhancing ability to achieve carbon neutrality in response to the climate crisis.
2. Moving to a low-carbon, environmentally friendly society based on technological and industrial innovation.
3. Constructing a transportation network with an emphasis on clean air and low-emission automobiles.
   
   (1)Enhancing ability to achieve carbon neutrality in response to the climate crisis.

The creation of a national basic strategy and the encouragement of significant greenhouse gas reductions

• The National Basic Plan for Carbon Neutrality and Green Growth will be produced by March 2023, and its execution will be monitored annually to meet the country’s greenhouse gas reduction target for 2030 (NDC: Nationally Determined Contribution).
• Additionally, to assist businesses in preparing for mid- and long-term policy changes that will accelerate the reduction of greenhouse gases, the Fourth Basic Plan for Greenhouse Gas Emissions Trading System will be established as soon as is practical based on the Implementation Plan for the 2030 National Greenhouse Gas Reduction Targets.

Enhancing adaptive strategies to reduce climate catastrophe harm

• In order to make the implementation plan feasible and minimize harm from the rising climate disaster, establish the National Climate Crisis Adaptation Measures 3.5 to support the Third National Climate Crisis Adaptation Measures established in 2020.
• Also, starting in 2023, the building of highways, airports, and waste treatment facilities will be included in the scope of climate change impact assessments, mandating the establishment of adaptation strategies by operators and planning authorities to lower greenhouse gas emissions.

Achieving carbon neutrality under the direction of the local community, the nation, and the world

• The construction of carbon neutrality support centres will be expanded to 20 basic local governments in addition to the current 17 upper-level local governments in order to promote region-specific carbon neutrality policies (metropolitan government, metropolitan cities, metropolitan autonomous city, provinces, and special self-governing province).
  
  (2) Moving to a low-carbon, environmentally friendly society based on technological and industrial innovation.

Encouraging the decarbonization of the economy and industrial structure

• To encourage green finance that uses the Korean green categorization system, which will be imposed starting in 2023, several new support programmes will be encouraged.
• Boost institutional support so businesses can successfully respond to domestic and global calls for improved Environment, Society, and Governance (ESG).

Promoting green technology and industries while setting the groundwork for their international expansion

• Completely enhance assistance for emerging green industries to promote them as fresh growth engines and aid in the development of top-notch human resources in line with market need.
• By making significant investments in the creation of green technologies with a mission and that proactively address market and environmental developments, substantial results can be produced.

Establishing a foundation to spread environmental awareness and green consumption

• In order to prevent consumer harm from environmental labelling and advertisements, the eco-label certification system will be reorganised to reflect the consumer experience. Management will also be strengthened by developing guidelines for environmentally friendly management activities and public relations.
• Several programmes will be encouraged to improve environmental education in schools and to boost teachers’ skills in the meantime, as it will be required in elementary and junior high schools starting in March 2023.
  
  (3) Constructing a transportation network with an emphasis on clean air and low-emission automobiles.

Defending the people from air pollution

• In accordance with the Third Comprehensive Plans to Improve Atmospheric Environment’s objectives and the World Health Organization’s (WHO) strengthened air quality guidelines, standards for air quality, including the average annual concentration of ultrafine dust, will be strengthened in order to reduce air pollutants.
• The Fourth Fine Dust Seasonal Management System’s primary responsibilities should be smoothly implemented, and by May 2023, its effectiveness should be assessed.

By switching to zero emission automobiles, the environmental industry of the future can be created

• To achieve a total of 700,000 zero emission vehicles, increase support for accelerating the switch to zero emission vehicles and encourage the installation of electric vehicle chargers and hydrogen vehicle charging stations.

Reducing the use of internal combustion engines

• The early scrapping support programme will now cover class 4 vehicles in addition to the current class 5 vehicles, and criteria for average greenhouse gas emissions for compact vehicles will be tightened in an effort to minimise the number of internal combustion engine vehicles on the road.

Source : – https://me.go.kr/home/web/board/read.do?pagerOffset=0&maxPageItems=10&maxIndexPages=10&searchKey=&searchValue=&menuId=10525&orgCd=&boardId=1576960&boardMasterId=1&boardCategoryId=&decorator=

https://enviliance.com/regions/east-asia/kr/report_9496