KCCI "Concerns Over Feasibility of Greenhouse Gas Reduction Targets"

[Asia Economy Reporter Hwang Yoon-joo] The Korea Chamber of Commerce and Industry (KCCI) expressed concerns on the 8th that the burden on companies will increase regarding the 2030 Nationally Determined Contribution (NDC) for greenhouse gas reduction.

Woo Tae-hee, Executive Vice President of KCCI, commented on the Carbon Neutrality Committee's announcement of an increased greenhouse gas reduction target, saying, "While we agree that carbon neutrality is the path to overcoming the climate crisis, there are only about eight years left until 2030."

He added, "There are significant concerns about the feasibility of raising the 2030 national greenhouse gas reduction target (NDC) to 40%. In particular, the 2030 NDC target for the industrial sector has been increased more than twofold compared to 2018, which greatly increases the burden on companies that must achieve this."

Vice President Woo pointed out that South Korea has a much higher manufacturing sector ratio than major countries and currently has the world's highest carbon emission efficiency, making it difficult to achieve the goals through corporate efforts alone.

He stated, "To achieve the ambitiously set 2030 NDC, rapid development and commercialization of innovative technologies are necessary. Since there are limits to solving this at the individual company level, national-level support must back these efforts," he added.

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