FKI Expresses Regret Over 2030 Greenhouse Gas Reduction Target Increase, Citing Lack of Economic and Industrial Sector Input

Final Carbon Neutrality Target... '40% Reduction by 2030 · Net Zero Emissions by 2050' Decided

[Asia Economy Reporter Kim Heung-soon] The Federation of Korean Industries (FKI) expressed regret on the 18th, stating that the positions of the business and industrial sectors were not properly reflected during the discussion process of the 2030 Nationally Determined Contribution (NDC) enhancement plan and the 2050 carbon neutrality scenario.

On the same day, the Carbon Neutrality Committee reviewed and approved a plan to raise the 2030 NDC from the existing 26.3% reduction compared to 2018 to 40%, and to pursue 'net zero' by reducing net greenhouse gas emissions by 100% by 2050.

This is the same as the draft released on the 8th, with the overall reduction target and the industrial sector reduction target being identical. It represents a 13.7 percentage point increase from the previous target, which is more than a 50% increase, and the industrial sector reduction target has more than doubled compared to before.

The FKI pointed out, "Since the release of the 2030 NDC draft, the business and industrial sectors have requested adjustments to the targets, citing that our industry's energy efficiency is among the highest in the world and that it is difficult to introduce groundbreaking carbon reduction technologies, but none of these were reflected."

They urged, "We request a thorough review to ensure that the 2030 NDC can be reasonably established in accordance with our economic conditions at the upcoming Cabinet meeting."