[General Election Pledge Analysis④] Diverse Approaches to the Climate Crisis: "Hydrogen Economy" vs "RE100" vs "Denuclearization"

Amidst a heatwave with temperatures exceeding 35 degrees Celsius continuing day after day, a notice warning that train operations may be delayed due to the heatwave is posted in the Seoul Station waiting room on the afternoon of the 4th. Photo by Jo Yongjun jun21@

Each party presented various climate crisis-related pledges ahead of the 22nd general election. The People Power Party promised to reduce greenhouse gas emissions focusing on nuclear power. The Democratic Party emphasized RE100 (100% renewable energy use) and pledged to establish renewable energy. The Green Justice Party made the transition to 100% renewable energy its first pledge, actively advocating more than any other party.

What about greenhouse gas and renewable energy ratios?

The People Power Party set the same targets as the government did last year. They pledged to reduce greenhouse gas emissions in the power generation sector by 45.9% by 2030 compared to 2018 and to expand carbon-free energy to achieve this. Carbon-free energy includes not only renewable energy but also nuclear power. However, they did not present a target for total greenhouse gas emissions.

On the other hand, the Democratic Party promised to reduce greenhouse gas emissions by 52% by 2035 compared to 2018. This is a higher target than the 40% set by former President Moon Jae-in. They also emphasized the implementation of RE100, which had troubled President Yoon Suk-yeol. Their plan includes expanding the share of renewable energy in power generation to 40% by 2035 and promoting public RE100 in public institution buildings, railways, and roads. The Reform New Party also emphasized the spread of RE100 but plans to encourage investment led by the private sector.

The Green Justice Party pledged a public-centered transition to 50% renewable energy by 2030 and 100% by 2050. To achieve this, they proposed joint renewable energy production by Korea Power Corporation and private energy cooperatives, as well as free installation of solar panels in multi-family housing and rural fishing villages.

The Innovation Party proposed expanding the renewable energy ratio to 30% by 2030 and 80% by 2050 with their "3080 Sun and Wind Policy Package." They plan to enact a special law supporting solar and wind power generation and impose carbon costs on electricity and petroleum. The New Future Party set a target of 40% renewable energy share by 2030.

People Power Party "Restructure power market favoring nuclear power" vs Green Justice Party "Nuclear phase-out"

The People Power Party emphasizes expanding nuclear power as an environmentally friendly energy production method. They pledged to actively develop 'Small Modular Reactor' (SMR) technology, an innovative next-generation nuclear power, and to restructure the power market favorably for carbon-free power sources such as nuclear and wind power. The Reform New Party also included promoting eco-friendly nuclear power exports and building high-level radioactive waste disposal sites in their pledges. The Democratic Party made no specific mention of nuclear power but proposed nuclear power plant dismantling as a new energy business in the Busan and Ulsan regions.

The Green Justice Party advocates for nuclear power plant dismantling. They emphasized the need for a swift nuclear phase-out by shutting down aging nuclear plants and halting new construction. They also pledged to ban the construction of high-level nuclear waste storage facilities in areas where nuclear plants are located and to repeal the Nuclear Promotion Act.

Emphasis on climate-related industries... People Power Party "Hydrogen ecosystem" vs Democratic Party "Carbon Neutral Industry Act"

Each party pledged to foster climate-related industries. The People Power Party promised to build a hydrogen ecosystem, expanding overseas investment in green hydrogen and establishing domestic clean hydrogen production bases to secure the hydrogen supply chain. The Democratic Party announced plans to enact the Carbon Neutral Industry Act to strengthen comprehensive support for industries that can overcome the climate crisis, such as electric vehicles, renewable energy, and green hydrogen.

The Green Justice Party proposed more radical measures. They pledged to transform the Industrial Bank of Korea into a Green Economy Bank and to promote 500 trillion KRW in green public investment by 2030. They plan to raise funds through carbon taxes and green bonds. The Green Economy Bank would directly invest and provide guarantees. The Innovation Party promised to establish a 'one-stop shop system' to drastically reduce costs for renewable energy companies by streamlining site approval and permitting processes. The New Future Party emphasized expanding the energy storage system (ESS) business.

What is the role of the National Assembly regarding the climate crisis?

Both ruling and opposition parties agreed to increase the National Assembly's role concerning the climate crisis. The People Power Party, Democratic Party, and Green Justice Party pledged to institutionalize the Climate Crisis Special Committee in the 22nd National Assembly. They aim to empower the committee with legislative authority and budget review rights to enable it to perform substantial functions. However, the ruling People Power Party's pledge focuses on administrative tasks such as government coordination, while the opposition Democratic Party and Green Justice Party emphasize the National Assembly's role in establishing social dialogue bodies and budget review.

The Innovation Party pledged to establish a Ministry of Climate and Energy within the executive branch rather than the National Assembly. If created, this ministry is expected to serve as a control tower managing climate crisis response and carbon-neutral industrial, trade, and energy policies.