KCCI to Focus on Resolving Unreasonable Environmental Regulations in Consultation with the Ministry of Environment

[Asia Economy Reporter Hwang Yoon-joo] The Korea Chamber of Commerce and Industry (KCCI) announced on the 10th that it held the '2021 1st Corporate Environmental Policy Council (141st Environmental and Climate Committee)' jointly with the Ministry of Environment at the Namdaemun Chamber of Commerce Building in Seoul.

The 'Corporate Environmental Policy Council' is a forum where the government and companies discuss environmental policy directions and industry issues together, held annually since 1998. Attending the council meeting were Woo Tae-hee, Executive Vice President of KCCI, Hong Jung-gi, Vice Minister of the Ministry of Environment, and key corporate representatives including Park Yong-geun, Vice President of SK Hynix, and Yoon Seok-hyun, Executive Director of Hyundai Motor Company.

In his greeting, Woo Tae-hee, Executive Vice President of KCCI, said, "Recently, major environmental issues such as the Green New Deal and 2050 Carbon Neutrality have increased the importance of the Ministry of Environment's role," adding, "It is important to make balanced environmental policies that protect public health and the environment while enhancing corporate competitiveness."

Vice Minister Hong Jung-gi stated, "Despite the difficulties caused by COVID-19, I believe our economy has performed relatively well compared to other countries thanks to the efforts of the industrial sector," and added, "In promoting environmental policies, we will listen to the voices from the industrial field and strive to broaden mutual understanding."

During the meeting, companies made proposals related to environmental policies, and the Ministry of Environment expressed willingness to accept some of these proposals.

Company A proposed, "Under the Air Quality Management Area Act, even if companies make efforts and have remaining total allowable emissions, the carryover limit to the next year is restricted," requesting, "Please relax the carryover limit on total emissions." In response, the Ministry of Environment said, "Increasing the carryover limit could reduce the volume of emission trading and raise trading prices, increasing the burden on companies," and added, "We will try to utilize other means such as borrowing and offsetting."

Company B stated, "According to the Air Quality Management Area Act, most manufacturing facilities must install automatic stack monitoring systems (TMS) by July this year," and requested, "Exceptions are needed for facilities structurally unable to install TMS (such as flare stacks and molten metal facilities)." The Ministry of Environment responded, "Facilities structurally unable to install TMS will be added to the exemption list."

Additionally, the Ministry of Environment introduced the 'Carbon Neutrality Scenario Establishment and Implementation Strategy.' A Ministry official said, "In the first half of this year, we plan to establish a 'Greenhouse Gas Reduction Scenario' for carbon neutrality implementation and prepare sector-specific implementation strategies such as the 'Circular Economy Innovation Roadmap,'" adding, "We will continuously communicate with the industrial sector throughout the policy implementation process."

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