South Korea has joined hands with Japan and China to boost carbon-reduction policies in East Asia. The three countries are expected to contribute around . South Korean President Lee Myung-bak also stated that his country will set a 2020 emissions reduction target in the coming year.
President Lee mentioned that the goal of this partnership is to cut emissions in East Asian nations while promoting economic growth. According to the plans, the sum of US$ 200 million would be raised within the next 5 years and would be used to design emissions reduction strategies and execute pilot programs.
The President also stressed that incentives are required to promote collaboration between G8 members and developing nations on the issue of emissions reductions. Such collaboration is essential in tackling the menace of global warming after 2012.
G8 nations have agreed to consider 50% carbon reductions by mid-century while developing nations like India are giving more .
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