FKCCI "Government Carbon Neutrality Scenario Raises Concerns Over High Industry Reduction Targets"

[Asia Economy Reporter Suyeon Woo] The Federation of Korean Industries (FKI) expressed concerns on the 5th that the reduction targets for the industrial sector in the government's draft carbon neutrality scenario are excessively high.

On the same day, the FKI stated in a commentary regarding the government's release of the draft carbon neutrality scenario, "We highly appreciate the efforts to participate in the international community's climate crisis response and to minimize domestic damage caused by climate change, but the business community cannot help but express concerns that the reduction targets for the industrial sector are excessively high."

They added, "According to the draft, in all three scenarios, the industrial sector must reduce emissions by about 80% compared to 2018 levels by 2050. Given South Korea's manufacturing-centered industrial structure, setting such an unrealistic target raises worries about job losses and a decline in the international competitiveness of Korean products."

On the same day, the government unveiled three draft scenarios to reduce net greenhouse gas emissions to 25.4 million tons, 18.7 million tons, and zero by 2050.

The FKI pointed out that the feasibility of carbon reduction technologies and fuel switching measures proposed by the government as reduction methods is currently unclear, and also criticized the omission of nuclear power expansion in the transition sector.

The FKI emphasized, "Nuclear power is a means to supply electricity stably without emitting greenhouse gases," adding, "Major countries such as the United States, Japan, the United Kingdom, and China have announced plans to actively utilize nuclear power as a means to achieve carbon neutrality, and it is desirable for us to include nuclear power expansion plans in the transition sector as well."

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