Korea-China-Japan Academia Share Carbon Neutrality Policies... 'Energy Transition, CCS, Carbon Tax'

[Asia Economy Reporter Kim Bo-kyung] Experts from Korea, China, and Japan, who recently declared carbon neutrality, gathered to exchange opinions on future decarbonization policies. Various measures such as expanding renewable energy, developing carbon capture and storage (CCS) technology, and introducing carbon taxes were proposed.

The Korea Environment Institute (KEI) held an online workshop on the 15th in collaboration with Tsinghua University in China and the University of Tokyo in Japan to share each country's carbon neutrality scenarios.

This international workshop was conducted to promote in-depth greenhouse gas emission reduction scenario research among the three countries?Korea, China, and Japan?and to exchange opinions on future policies. A total of 37 experts from each country participated, presenting diverse views on national carbon neutrality plans.

Limiting Global Temperature Rise to 1.5°C... Three Countries Declare Carbon Neutrality

The Intergovernmental Panel on Climate Change (IPCC), under the United Nations, unanimously adopted the "Special Report on Global Warming of 1.5°C" at the plenary session held in Songdo, Incheon in 2018 with 195 member countries.

This report states that to limit the global average temperature increase to 1.5°C, global carbon neutrality must be achieved by 2050.

Carbon neutrality means that the amount of greenhouse gases removed and absorbed from the atmosphere offsets emissions, resulting in net zero emissions. Greenhouse gas absorption occurs through natural and ecological functions such as forests, tidal flats, and wetlands, while greenhouse gas removal is possible through carbon capture, utilization, and storage (CCUS) technology.

[Image source=Yonhap News]

To achieve the goal of the 1.5°C global warming special report, countries are declaring carbon neutrality. The European Union (EU) announced carbon neutrality by 2050 through the Green Deal last year, and recently China declared a goal for 2060, while Korea and Japan set 2050 as their target years for carbon neutrality.

Key options for achieving carbon neutrality include energy transition, technological changes, and the introduction of carbon taxes. Scenario development for a carbon-neutral society and climate and environmental policy cooperation among countries are also necessary.

Korea Cautious on Carbon Tax Introduction... China Says "Electrification Must Exceed 76%"

At this workshop, Korea presented ▲ Korea's suitable pathways for a net-zero emissions society by 2050 ▲ an analysis of Korea's in-depth decarbonization scenarios using an integrated model.

Professor Jung Tae-yong of Yonsei University analyzed various pathways for Korea to achieve a net-zero emissions society by 2050 using an integrated assessment model.

The scenario analysis showed that electricity production increased compared to the baseline scenario due to electrification aimed at reducing carbon emissions. In particular, the reuse of nuclear power was analyzed as an important factor in the carbon neutrality scenario. Professor Jung stated, "Although the introduction of a carbon tax was considered, it is necessary to reflect on whether our society is prepared to accept a high carbon price."

Senior Research Fellow Kim Yong-geon of KEI presented the results of analyzing Korea's decarbonization scenarios, saying, "The greater the adoption of future decarbonization technologies, the lower the economic losses caused by carbon neutrality tend to be, indicating the need for more active adoption of future technologies."

[Image source=Yonhap News]

The Chinese side presented ▲ an analysis of China's 2060 carbon neutrality target ▲ the economic ripple effects of China's carbon dioxide reduction.

Professor Zhang Xiliang of Tsinghua University stated, "To achieve carbon neutrality by 2060, China must improve energy efficiency and increase the share of renewable energy and nuclear power generation." He added, "Electrification must exceed 76% in the industrial, transportation, and building sectors, and the development of innovative technologies such as hydrogen and CCS, as well as the introduction of a carbon tax, must be implemented together."

Senior Researcher Jiang Kejun of the China Energy Research Institute (ERI) said that expanding investment in CCS and bioenergy carbon capture and storage (BECCS) technologies is essential.

Japan: "Consider Industrial and Demographic Changes"... Emphasizes Technological Innovation

Professor Sugiyama of the University of Tokyo emphasized, "Strong policies must accompany efforts to achieve carbon neutrality." He also noted that considering Japan's unique circumstances, there are limitations to renewable energy use, so alternatives such as hydrogen imports, bioenergy use, and electric grid connections are necessary.

He stated, "The heavy industry sector is a difficult area for decarbonization, so technological innovation must be considered. Changes in industrial structure and population aging are social phenomena faced throughout East Asia, and future policies need to take these into account."

Senior Research Fellow Kato of the Japan Research Institute of Energy Engineering emphasized the importance of BECCS and direct air carbon capture and storage (DACCS) technologies.

He said that rapid development and adoption of negative emission technologies (NET) are necessary for Japan to achieve carbon neutrality, and that scaling up must proceed more quickly to meet the 2050 carbon neutrality goal.

A KEI official stated, "We introduced the carbon neutrality scenarios of Korea, China, and Japan, which have declared carbon neutrality, and exchanged opinions on the validity of the scenarios and assumptions for future policies. We expect this to serve as an opportunity to strengthen the East Asian research cooperation system to achieve the 2050 carbon neutrality target."

This content was produced with the assistance of AI translation services.