Choi Tae-won: "We Need a Carbon Reduction Mechanism That 'Earns Money,' Not 'Taxes'" (Comprehensive)

28th KCCI 'Energy Transition Carbon Neutrality Policy Seminar'
'Energy Transition and Carbon Neutrality, and the Path We Must Take' Lecture

"Development of 'Carbon Neutral Cost-Benefit' Evaluation Model... Establishment of Public-Private Cooperation System"

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, delivering the keynote speech at the 'Energy Transition and Carbon Neutrality Policy Seminar' held on the 28th at the Chamber of Commerce building in Jung-gu, Seoul. (Photo by Korea Chamber of Commerce and Industry)

[Asia Economy Reporter Moon Chaeseok]

"Companies are asking to create a structure where they can 'see money' in carbon neutrality. In particular, it is important to develop a model that quantitatively evaluates the 'cost-benefit' of carbon neutrality and the effects of energy policies."

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, emphasized this at the 'Energy Transition and Carbon Neutrality Policy Seminar' held on the 28th at the Chamber of Commerce building in Jung-gu, Seoul. He advocated the so-called 'Net Zero Economic Growth Theory,' which calls for promoting new economic growth through carbon neutrality.

About 200 key figures from various sectors, including Chairman Choi, members of the Presidential Transition Committee, government officials, businesses, academia, and civic groups, attended the seminar, which was also broadcast live on YouTube.

Chairman Choi gave a lecture titled "Energy Transition and Carbon Neutrality, and the Path We Must Take." He emphasized that the main agenda of the Yoon Seok-yeol administration, which will launch next month, is 'growth,' and that economic growth through environmental measures is fully achievable. He said, "I think a very important topic for the new government is 'solving environmental problems through growth,'" adding, "We need to shift our thinking to see the environment as one of the topics of growth."

Chairman Choi devoted more than five minutes of his 30-minute keynote speech to carbon reduction incentives. He described the current carbon emissions trading system as a kind of 'tax.' If you fail to reduce emissions to a certain extent, you have to pay money, which is no different from paying taxes. Chairman Choi explained that if a mechanism is created where companies can 'earn money by drastically reducing carbon,' companies will participate and the market will expand. He said, "Even as the CEO of SK Group, if I could make more money by reducing carbon, I would immediately do so and ask how far we can reduce it," adding, "This kind of competition creates industrial growth momentum, and creating such a system is the 'incentive.'"

Chairman Choi defined the point at which the initial costs of carbon neutrality are surpassed by the 'growth benefits' as the 'Golden Cross.' He emphasized that to bring forward the Golden Cross point, it is necessary to induce voluntary participation from the public and companies. Chairman Choi said, "We need to develop a model that can quantitatively evaluate the cost-benefit of carbon neutrality and the effects of various energy policies to not only measure policy effectiveness but also suggest solutions," adding, "Because having a measurement model enables policymakers and companies to make (proper) decisions."

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