EU Ambassador to South Korea: "Green Transformation Is a Growth Engine, Not a Cost... Implementation Gap Must Be Narrowed"

"Adjusting Electricity Taxation, Reducing Non-Energy Costs"

Ugo Astuto, Ambassador of the European Union (EU) to South Korea, addressed concerns that the expansion of renewable energy could lead to higher electricity rates and reduced industrial competitiveness, emphasizing, "The green transformation can be a driver of growth."

Ambassador Astuto made these remarks during a joint press interview held on the 20th at the Yeosu Expo in Jeonnam to mark 'International Green Transformation Week.' He stated, "In the past, there were voices claiming that the green transition would incur costs in terms of growth and jobs, but now the paradigm has shifted."

He added, "Over the past decade, the EU has maintained relatively robust growth even while reducing (greenhouse gas) emissions," and stressed, "It is not about choosing between green transition and economic growth; rather, the transition to a green and digital economy can drive economic growth."

Ambassador Astuto also said, "It is important to present predictable targets to industries and create an environment conducive to transition," adding, "Even energy-intensive industries such as steel, metals, and chemicals can transition to a cleaner and more sustainable future."

Regarding energy costs, he stated, "Our goal is to keep costs at a level that everyone can afford," and explained, "We are working to alleviate the burden through a variety of policy measures, including adjustments to electricity taxation, reductions in non-energy cost elements, and improving energy network efficiency."

Ambassador Astuto is holding a press conference on the 20th at the Yeosu Expo in Jeonnam on the occasion of the "Green Great Transformation International Week."

Achieving Carbon Neutrality by 2050... Expanding Electrification and Improving Energy Efficiency

Ambassador Astuto emphasized the importance of multilateral cooperation for implementing the Paris Agreement and responding to the global climate crisis, discussing the roles of both Korea and the EU. He remarked, "Responding to the climate crisis is not a matter of choice but a necessary response to a risk we all face," and added, "It is essential to maintain the goal of limiting the increase in global average temperature to within 1.5 degrees Celsius above pre-industrial levels."

He also referenced the Global Stocktake agreed upon at the 28th United Nations Climate Change Conference (COP28), stating, "The top priority is to close the gap between pledges and actual implementation." This underscores the need to bridge the difference between national reduction targets and their on-the-ground execution.

Ambassador Astuto evaluated, "Renewable energy already accounts for 47.5% of the EU's electricity consumption, a significant increase from 28.6% in 2014, but it is still not enough." He continued, "We are pursuing a range of policies aimed at achieving carbon neutrality by 2050, including expanding electrification, improving energy efficiency, and implementing carbon pricing mechanisms," and explained, "We are responding to the energy crisis with a comprehensive approach that includes reducing demand."

He further noted, "Although each member state has a different energy mix, the targets of carbon neutrality by 2050 and a 55% reduction in emissions by 2030 are the same," adding, "Each country is achieving these goals through diverse pathways."

Regarding external dependence in the renewable energy supply chain, he said, "It is necessary to address vulnerabilities from an economic security perspective," and explained, "We are working to stabilize supply chains through strategic industrial self-reliance and cooperation with allied countries such as Korea." On tensions in the Middle East, he commented, "There have been price surges and volatility," but emphasized, "The lesson at this stage is that we must accelerate the transition to renewable energy." Ambassador Astuto concluded, "Responding to the climate crisis is a global challenge that requires international cooperation," and stated, "We will continue to strengthen cooperation with Korea."

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