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If you’d like more information on the We Mean Business coalition’s policy work, please contact Jen Austin

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South Korea

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The Republic of Korea Nationally Determined Contribution (NDC) targets emission reductions of 37% below business as usual by 2030. This is an economy wide target, with an intention to address land-use change and forestry at a later stage. The NDC also focuses on key policies including...
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Policies

Policy

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  • Policy

    By 2030, a 37% reduction of emissions compared to business-as-usual levels.

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      Science-based targets

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      Join the LCTPi

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      RE100 - 100% renewable power

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      Sustainable Fuels

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      EV100 - Commit to electric vehicles

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      Remove deforestation

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      Reduce SLCPs

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      Carbon pricing

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      Responsible climate policy

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      Report climate information (TCFD)

  • Policy

    The South Korean Emissions Trading Scheme covers 525 businesses from 23 sub-sectors including steel, cement, petrochemicals, refinery, power, buildings, waste and aviation.

    This scheme generates domestic credits and permits carbon trading through an international market mechanism. Domestic credits are expected to reduce emissions by 25.7% compared to business as usual and the international market mechanism is expected to reduce emissions by 11.3% compared to business as usual.

    Act on the Allocation and Trading of Greenhouse Gas Emission Permits

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      Science-based targets

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      Join the LCTPi

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      RE100 - 100% renewable power

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      EP100 - Double energy productivity

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      Sustainable Fuels

    • icon

      EV100 - Commit to electric vehicles

    • icon

      Remove deforestation

    • icon

      Reduce SLCPs

    • icon

      Carbon pricing

    • icon

      Responsible climate policy

    • icon

      Report climate information (TCFD)

  • Policy

    By 2020, average emissions standards to be 97g CO2/km for new light passenger vehicles, and 166g CO2/km for light commercial vehicles.

    Take Action

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      Science-based targets

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      Join the LCTPi

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      Sustainable Fuels

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      EV100 - Commit to electric vehicles

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      Reduce SLCPs

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      Report climate information (TCFD)

  • Policy

    By 2024, 10% of energy generation to come from renewable and “new” energy sources, which includes Integrated Gasification Combined Cycle plants.

    Renewable Portfolio Standards

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      Science-based targets

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      Join the LCTPi

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      RE100 - 100% renewable power

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      Report climate information (TCFD)

  • Policy

    By 2029, reduce annual electricity demand by 14.3% compared to business as usual.

    7th Basic Plan for Long-Term Electricity Supply and Demand 2015-2029

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      Science-based targets

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      Join the LCTPi

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      EP100 - Double energy productivity

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      Report climate information (TCFD)

  • Policy

    By 2029, reduce peak electricity demand by 12% compared to business as usual.

    7th Basic Plan for Long-Term Electricity Supply and Demand 2015-2029

    Take Action

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      Science-based targets

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      Join the LCTPi

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      EP100 - Double energy productivity

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      Report climate information (TCFD)

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