"Best Efforts to Ensure Carbon Neutral National Policies Do Not Become Corporate Management Risks"

2030 NDC Implementation Plan Economic Organizations Meeting

[Asia Economy Sejong=Reporter Dongwoo Lee] Kim Sang-hyup, private member of the Carbon Neutral Green Growth Committee, stated on the 16th, "We will take the lead in presenting a clear policy direction for the next 30 years so that national policies on carbon neutrality do not become a risk of uncertainty in corporate management."

Chairman Kim said at the '2030 National Greenhouse Gas Reduction Target (NDC) Implementation Plan Major Economic Organizations Meeting' held at the Korea Chamber of Commerce and Industry in Seoul on the morning of the same day, "This year is an important period for promoting Korea's carbon-neutral green growth policy, and it is necessary to concentrate all capabilities of the government and the private sector." He added, "We will strive to understand the technical and economic difficulties and challenges faced by the industry during the 2030 NDC and carbon neutrality implementation process and work with the government to prepare innovative support measures and fundamental solutions."

This meeting was organized to gather opinions from the business community on cooperation methods and support directions between companies and the government ahead of the establishment of the '2030 NDC Implementation Plan' and the National Carbon Neutral Green Growth Basic Plan scheduled for March. The '2030 NDC' is an intermediate goal for achieving carbon neutrality by 2050, set by participating countries under the Paris Climate Change Agreement as their national greenhouse gas reduction targets. Korea plans to reduce emissions by 40% compared to the total emissions in 2018 by 2030.

At the meeting, the Carbon Neutral Green Growth Committee explained the progress, considerations, and cooperation matters regarding the 2030 NDC implementation plan and confirmed the industry's preparation status and difficulties in implementing the 2030 NDC. The economic organizations attending the event agreed that the transition to carbon neutrality and a low-carbon economy is an inevitable new economic order but emphasized the need for active government support measures. In particular, reflecting the characteristics of carbon neutrality investments that require enormous funds and time, they requested tax and financial support, expansion of government-level research and development (R&D) support, and repeatedly called for regulatory improvements that could be constraints on new investments.

The Carbon Neutral Green Growth Committee plans to maintain constant communication with the business community during the carbon neutrality realization process and consult with related ministries to reflect field suggestions in policies. Meanwhile, the committee has held meetings focused on major high-emission industries such as steel, petrochemicals, cement, refining, semiconductors, and displays to prepare the 2030 NDC implementation plan. Attendees at this meeting included the Korea Chamber of Commerce and Industry, Federation of Korean Industries, Korea Association of Mid-sized Enterprises, Korea Federation of SMEs, and Korea International Trade Association.

The 2030 NDC (Nationally Determined Contributions) related Carbon Neutrality Green Growth Committee-Economic Organizations-Economic Organizations meeting was held on the 16th at the Korea Chamber of Commerce and Industry. Chairman Kim Sang-hyeop is giving a greeting. Photo by Heo Young-han younghan@