South Korea to implement Green New Deal after ruling party election win
04/19/2020 Since 9 months
Seoul is to set a 2050 net-zero emissions goal and end coal financing, after the Democratic Party’s victory in one of the world’s first Covid-19 elections.
South Korea is on track to set a 2050 carbon neutrality goal and end coal financing after its ruling Democratic Party won an absolute majority in the country’s parliamentary elections on Wednesday.
Under this new initiative, South Korea has become the first country in East Asia to pledge to reach net zero emissions by 2050.
In a report on the election outcomes, Chloé Farand informs that the plan includes large-scale investments in renewable energy, the introduction of a carbon tax, the phase out of domestic and overseas coal financing by public institutions, and the creation of a Regional Energy Transition Centre to support workers transition to green jobs.
This post is also available in:
“Mi Taxi Electrico” programme launched in Chile
According to IDB data, Latin America's transport sector is the largest source of energy-related emissions in the region and its car fleet is responsible for 37% of total transport emissions. As countries work on revis...
Brazil to promote public-private partnerships for infrastructure projects with IDB support
Brazil will promote new models for private investment in infrastructure to boost service quality, the socio-environmental impact of investments, and economic growth and productivity with a $20 million loan approved by...
Asset owners set and commit to report on 2025 targets to support 2050 net-zero emissions
Thirty-three of the world’s largest investors have committed to setting and reporting on 2025 targets to support the transition to net-zero greenhouse gas emissions by 2050. The final Net-Zero Asset Owner Alliance’s I...