President Moon Declares 'Carbon Neutrality' at G20... "Complete Phase-Out of Coal Power by 2050"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] President Moon Jae-in, who is visiting Rome, Italy to attend the Group of Twenty (G20) summit, declared in front of the G20 leaders that "coal power generation will be completely phased out by 2050."

On the 31st (local time), during the second session of the G20 summit held in Rome, Italy, titled 'Climate Change and Environment,' President Moon stated, "Since the launch of our government, eight coal power plants have been closed early, and two more are scheduled to be shut down by the end of this year."

In this session, the participating country leaders discussed the importance of the 2050 carbon neutrality goal for climate change response, ways to achieve it, and international cooperation measures to address the climate crisis.

President Moon also unveiled South Korea's carbon neutrality scenario on the international stage for the first time as part of cooperation measures to tackle the climate crisis.

President Moon explained, "Korea will align itself with 'carbon neutrality.' Korea has legislated carbon neutrality by enacting the Carbon Neutrality Basic Act and established the 'Carbon Neutrality Committee,' which includes both public and private sectors, to finalize the '2050 Carbon Neutrality Scenario.'" He also announced plans to present an enhanced 2030 Nationally Determined Contribution (NDC) at the United Nations Framework Convention on Climate Change Conference of the Parties (COP26) to be held in Glasgow, UK, early next month.

President Moon introduced Korea's ongoing carbon neutrality efforts, including the cessation of public financial support for new overseas coal power projects and strengthened efforts to reduce methane emissions, emphasizing that not only the public sector but also domestic private companies are actively participating in carbon neutrality.

President Moon stated, "The new industries and jobs created through Korea's 'Green New Deal' are the most important driving force for realizing 'carbon neutrality,'" adding, "Many Korean companies are actively participating in RE100." RE100 is a voluntary campaign declaring the use of 100% renewable energy by 2050.

President Moon particularly emphasized Korea's focus on the hydrogen economy, stating, "We will also strengthen global cooperation for the hydrogen economy." He continued, "We have 30 years until 2050, but the first 10 years are crucial," and urged major countries to unite in responding to climate change, saying, "How we implement the 2030 NDC target will determine the success or failure of achieving carbon neutrality by 2050."

The Blue House explained the significance, stating, "This was a direct reaffirmation of our country's continuous and proactive commitment toward carbon neutrality," and added, "As a key member of the G20 and a global leading nation, Korea successfully conveyed to the international community its intention to continue making a high-level contribution to addressing the climate crisis."

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