Skip to main content

Argus Media:

The South Korean government at a cabinet meeting today approved roadmaps for 2050 carbon neutrality and new 2030 nationally determined contribution (NDC) targets, the ministry of environment announced.

South Korea’s presidential committee on carbon neutrality submitted to the government on 18 October two scenarios to achieve 2050 net zero emissions, based on the newly proposed NDC target announced on 8 October.

The government approved both scenarios at today’s meeting, which entail a complete phase-out of coal-fired power generation by 2050. Scenario A assumes a complete suspension of all thermal generation, while scenario B stipulates maintaining LNG in its role as a flexible power source.

In the proposal document published on 18 October, power-sector emissions were projected at 20.7mn t of CO2 equivalent (CO2e) by 2050 under the second scenario. But today’s announcement shows that Seoul plans to reach net zero power-sector emissions under both scenarios through carbon capture programmes.

The cabinet also approved the new NDC target, which means South Korea’s economy-wide emissions will be reduced by 40pc in 2030 from 2018 levels. This compares with previous 2030 emissions cut targets of 24.4pc and 26.3pc from 2017 and 2018 levels, respectively.

[Evelyn Lee]

More: South Korea approves coal phase-out by 2050

Join our newsletter

Keep up to date with all the latest from IEEFA