Korea considers 4% CO2 reduction

| Sourced From Koreaherald.co.kr |

Korea will consider either a freeze or a 4 percent cut in greenhouse gas emissions by 2020 from 2005 levels, officials said yesterday.

The Presidential Committee on Green Growth yesterday proposed the two options for consideration ahead of a U.N. climate conference in Copenhagen next month.

The government will make a final decision on Nov. 17. But it is expected the country will opt for the 4 percent cut as the President Lee Myung-bak has urged policymakers to aim high in carbon cut goals at a cabinet meeting earlier in the week.

The country is the ninth-biggest carbon emitter among Organization for Economic Cooperation and Development member nations. Korea emitted 594 million tons of carbon dioxide in 2005.

The plan, however, is likely to face opposition from the country’s business circles.

The business community here has argued that the 4-percent target is too harsh for them, addressing concerns that the heavy costs involved would hurt their competitiveness, both in and out of the country.

Some point out that the Korea’s economy still depends on heavy-polluting industries and petrochemicals, while European countries have already made an industrial transition to services and technology. This will make it hard for Korean corporations to transition to greener industries, they say.

But other experts counter that corporations are making the standard “green is anti-business” complaints, even though many have been preparing for the government’s green initiative for years.

“Korean business may face difficulties in participating in the agenda, but I am sure they have also been preparing for this upcoming new industrial change for a long time,” Hur Man-yool, research fellow at the Industry Strategy Division of Hyundai Research Institute.

“They are actually ready for the climate change act,” he added.

Experts also noted that the 4 percent target is much lower than what has been set by other advanced countries.

Japan, a active proponent of lowering greenhouse gasses, announced that it aim to cut CO2 emissions by 30 percent from 1990 levels, while Germany, Sweden and Norway plan for 40 percent reductions by 2020.

But Korea’s 4 percent cut doesn’t even stack up to some developing countries’ proposals.

Indonesia, for example, recently announced that it will cut greenhouse gases by 26 percent by 2020.

During the committee meeting yesterday, the government also outlined plans to develop “green cities, buildings and transports.”

The Ministry of Land, Transport and Maritime Affairs said in a report that it would make it mandatory for building owners to reduce energy consumption by 2017. The government will consider limiting energy use by the new buildings to be constructed next year, and requiring owners and buyers of buildings to have certificates that show the volume of energy consumption.

One million public apartment units to be provided by the government will also adopt the latest green technology – which would cut energy use up to 30 percent by the year 2018.

“I firmly believe that this kind of initiative from the government is extremely important. It is a crucial foundation to make positive change in Korea and to make the Korean people aware of the need to go green, save natural resources and improve their quality of life,” David G. Moore, executive vice president of Gale International Korea, said.

Gale International is developing the world’s first green city, Songdo, some 30 kilometer west of Seoul.

The ministry will also push ahead with developing eco-friendly transportation systems by promoting the use of bicycles and plug-in cars. The ministry also plans to reduce carbon emissions by the transport sector by 33-37 percent by 2020. (christory@heraldm.com)

By Cho Chung-un

Posted on November 7, 2009 · in Asia

Tagged as: Carbon Reduction • CO2 • GHG emission