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first_imgSouth Korea’s Green New Deal a ‘stunningly ambitious’ transition for coal-dominated country FacebookTwitterLinkedInEmailPrint分享Channel News Asia:When South Korea’s Democratic Party, under the leadership of President Moon Jae-in, romped to a comprehensive victory in national elections last month, it signaled overwhelming confidence in the incumbent government during a period of crisis.In effect, it also endorsed Moon’s newly launched climate change policy, which he has dubbed South Korea’s Green New Deal, echoing language used in Europe and the United States for a transformative agenda to shift away from damaging fossil fuels.It puts the country, which is currently the seventh biggest carbon polluter in the world, on a crash course with a painful, controversial but necessary overhaul of its energy systems. The action plan that the government announced in March – including a large-scale investment in renewable energy, the phasing out of coal operations and financing, a new carbon tax and a target of zero net emissions by 2050 – is at odds with much of the existing infrastructure and policies.Achieving these goals for South Korea will be a more challenging task than in many other nations trying to make similar changes to their power production, according to leading regional energy expert, Melissa Brown.“Generally speaking at a diplomatic level, you have a very comfortable embrace of green themes, green topics and the trappings of deep environmentalism. (But) the reality of the ground normally doesn’t match. It’s been a point of contention in Korea,” said Brown, the director of Energy Finance Studies, Asia at the Institute for Energy Economics and Financial Analysis. “When we talk about the Green New Deal and trying to redirect Korea, it can seem a stunningly ambitious exercise.”South Korea relies on coal for about 44 per cent of its power needs presently. The non-nuclear renewable sector, including wind and solar is underdeveloped and accounted for less than 2 percent of production in 2018.[Jack Board]More: South Korea’s Green New Deal ‘stunningly ambitious’ for one of region’s top polluterslast_img read more

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