"Will Double the Climate Response Fund"
Emphasizing Private Sector-Led Climate Crisis Response
Han Dong-hoon, the emergency committee chairman of the People Power Party, argued that instead of insisting solely on RE100 (100% renewable energy use), it is necessary to expand nuclear energy and renewable energy in a balanced manner. He also pledged to double the climate response fund to support industries related to climate crisis response.
People Power Party Emergency Response Committee Chairman Han Dong-hoon is announcing the on-site pledge for the 'Climate Future Delivery' at a book cafe in Seongdong-gu, Seoul, on the 27th. [Image source=Yonhap News]
On the morning of the 27th, Han and other leaders of the People Power Party announced their climate-related pledges at a book caf? located in Seongdong-gu, Seoul. Han said, "When the Democratic Party talks about climate-related pledges, they start by asking, 'Do you know about RE100?'" He added, "What difference does it make whether you know or not? Many believe that it is not feasible to operate our society in the short and medium term solely on 100% renewable energy." He continued, "The perspective we think of, which focuses on carbon, is gaining greater support," and stated, "Greenhouse gases and RE100 are different concepts, and we need to find a way to harmoniously and balancedly consider both."
When asked whether nuclear power would be expanded even after renewable energy is increased, he replied, "Nuclear power is essential for sustainable development. European countries deeply regret their policies to phase out nuclear power from a geopolitical perspective," and added, "We cannot give up nuclear power on the premise that it is managed safely."
He also emphasized that the climate crisis should be addressed primarily by the private sector. Han said, "Startups will lead in private business, and the government should support them. There are limits to government-led efforts," and stated, "We will double the climate response fund by 2027 to expand zero-carbon energy and maintain the competitiveness of global industries." He further pledged, "We will expand nuclear power and renewable energy in a balanced way and actively support zero-carbon energy and low-carbon transition companies," and "We will foster the climate industry and expand green finance that supports climate startups."
The People Power Party has prepared a roadmap to secure funding for the climate response fund. They plan to adjust the transfer rates of transportation, environment, and energy taxes to 7%, among others, and increase transfers from the general account. Additionally, they will stabilize emission allowance prices, expand paid allocations under the 4th Emissions Trading Scheme allocation plan (2026?2030), and secure additional funds through transfers from the Power Industry Infrastructure Fund, lottery funds, and government contributions. Yoo Ui-dong, the policy chief of the People Power Party, said, "Initially, we focused on the low birthrate issue, and finally, we addressed the climate crisis. Both low birthrate and climate crisis are phenomena with various causes," and added, "The community called Korea was unprepared for these issues. Once governance is prepared, funding issues will also be resolved."
When asked about the need for cooperation from neighboring countries in implementing climate-related measures, Han said, "Diplomacy is a difficult issue," but added, "China may have unavoidable reasons due to climate and environment, but we also believe there are diplomatic matters to resolve as an equal nation."
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