KCCI: "Minimize 2030 National Greenhouse Gas Reduction Targets Considering Industrial Sites"

Government to Increase NDC from 26.3% in 2018 to 40%
Business Sector Questions Whether Feasibility Has Been Thoroughly Examined

[Asia Economy Reporter Yoo Je-hoon] The Korea Employers Federation (KEF) on the 8th demanded that the government and the Carbon Neutrality Committee minimize the increase in the national greenhouse gas reduction target (NDC) for 2030, which was significantly raised from a 26.3% reduction compared to 2018 emissions to 40%, by "considering the situation on the industrial front."

In a statement released that day, KEF said, "With less than 10 years left until 2030, we question whether the 40% greenhouse gas reduction target was set after a thorough review of its feasibility."

KEF added, "The business community has consistently expressed the position that the increase in the 2030 NDC should be minimized and the pace of policy implementation should be adjusted, due to the manufacturing-centered industrial structure, high dependence on coal-fired power generation, and uncertainties in the commercialization of carbon neutrality technologies. Excessive increases without considering the current situation are highly likely to cause serious side effects such as weakening corporate competitiveness, production cuts, relocation overseas, contraction of related industries, and job losses."

Furthermore, KEF demanded, "The government and the Carbon Neutrality Committee should actively accept the opinions of the industry, considering that the success or failure of carbon neutrality depends on the voluntary participation of companies."

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