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

If you’d like more information on making a We Mean Business coalition commitment, please contact Jennifer Gerholdt

South Korea

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The Republic of Korea 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 the national emissions...
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Policies

Policy

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  • Policy

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

    Take Action

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      EV100 - Commit to electric vehicles

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      Join the LCTPi

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      Carbon pricing

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      RE100 - 100% renewable power

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      Reduce SLCPs

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      Remove deforestation

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      Report climate information (TCFD)

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      Responsible climate policy

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      Science-based targets

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      Sustainable Fuels

  • 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

    Take Action

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      EP100 - Double energy productivity

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      EV100 - Commit to electric vehicles

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      Join the LCTPi

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      Carbon pricing

    • icon

      RE100 - 100% renewable power

    • icon

      Reduce SLCPs

    • icon

      Remove deforestation

    • icon

      Report climate information (TCFD)

    • icon

      Responsible climate policy

    • icon

      Science-based targets

    • icon

      Sustainable Fuels

  • 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

    • icon

      EV100 - Commit to electric vehicles

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      Join the LCTPi

    • icon

      Reduce SLCPs

    • icon

      Report climate information (TCFD)

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      Science-based targets

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      Sustainable Fuels

  • 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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      Join the LCTPi

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      RE100 - 100% renewable power

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      Report climate information (TCFD)

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      Science-based targets

  • 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

    Take Action

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      EP100 - Double energy productivity

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      Join the LCTPi

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      Report climate information (TCFD)

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      Science-based targets

  • 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

    • icon

      EP100 - Double energy productivity

    • icon

      Join the LCTPi

    • icon

      Report climate information (TCFD)

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      Science-based targets