Ministry of SMEs and Startups Holds Kickoff Meeting for 'SME and Venture Carbon Neutrality Future Strategy Roundtable'

The Ministry of SMEs and Startups is taking steps to establish a support system in line with expanding global carbon regulations.

On the 10th, the Ministry of SMEs and Startups held an advisory group appointment ceremony and roundtable kickoff meeting for designing a future strategy for carbon neutrality of SMEs and startups at the Kensington Hotel in Yeouido, Seoul.

This advisory group was formed to derive policy support measures at the ministry level so that our SMEs can proactively respond to the strengthening global carbon regulations, and it plans to operate intensively in a roundtable format until the end of the year.

The kickoff meeting proceeded with the awarding of appointment letters to 13 advisory members composed of experts from industry, academia, and research in the carbon neutrality field, presentations of operational plans by subcommittees, and listening to and discussing the advisory group’s opinions. The subcommittees will be operated in two groups: the ‘Voluntary Carbon Market Activation Subcommittee’ and the ‘Climate Tech Promotion Subcommittee.’

Currently, the burden of carbon reduction and climate change response for our export-oriented companies is increasing. Large and medium-sized enterprises subject to regulations have responded to carbon neutrality through the ‘Emissions Trading System’ and the development of innovative carbon reduction technologies. However, SMEs, which are not subject to reduction regulations and are disadvantaged in terms of funds, personnel, and information, lack both the motivation and appropriate means and resources for carbon reduction.

Accordingly, the Ministry of SMEs and Startups plans to establish a ‘SME Participation-Based Voluntary Carbon Reduction Support System’ so that SMEs can proactively respond to global carbon regulations and voluntarily achieve carbon neutrality. By presenting certification standards for reduction projects and trading guidelines that meet international standards, it aims to enhance the transparency and reliability of the private certification-based carbon market and create a supply and demand base where various stakeholders can actively participate in the carbon market.

Furthermore, to foster ‘Climate Tech Ventures and Startups (carbon neutrality technology companies),’ which are future growth engines for SMEs to realize carbon neutrality, the ministry plans to support commercialization, plan and operate large-scale dedicated R&D funds, expand demonstration and deregulation of climate tech technologies and products using regulatory free zones, among other initiatives.

To this end, the ministry plans to promote the enactment of the ‘Act on Promotion of Carbon Neutrality for SMEs’ within the year to establish a legal basis for voluntary carbon reduction support for SMEs and to disseminate and expand innovative carbon neutrality technologies. It will also further expand support for SMEs’ carbon neutrality transition, including carbon neutrality R&D, demonstration and verification of developed technologies, finance and investment, and global expansion.

Minister Oh Young-joo of the Ministry of SMEs and Startups stated, “Carbon neutrality for SMEs is a challenging but essential task to achieve,” and added, “Through the operation of this roundtable, the future strategy for carbon neutrality of SMEs and startups, created together by industry, academia, and research, is expected to become a stepping stone for our SMEs to respond to new norms and environments and advance into the global market.”