Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
Vice finance minister hosts meeting to cut greenhouse gas emissions
First Vice Finance Minister Bang Ki-sun, center, speaks during a consultative meeting with experts on reducing greenhouse gas emissions at Government Complex Seoul in central Seoul, Tuesday. Courtesy of the Ministry of Economy and Finance
By Yi Whan-woo
By Yi Whan-woo
First Vice Finance Minister Bang Ki-sun hosted a meeting to consult with experts on reducing greenhouse gas emissions in accordance with global climate goals, the finance ministry said Tuesday.
It said Bang shared ideas with scholars, business executives and other environment-related experts on possible measures to raise the reduction goal from 26.3 percent to 40 percent by 2030, as compared to the 2018 level.
The goal is in accordance with Korea's Nationally Determined Contribution (NDC), the national plan for climate change mitigation and greenhouse gas emissions reduction. NDCs were put forth to achieve the goals of the Paris Agreement on climate action in December 2015.
“The vice minister vowed to set up thorough policy directions and principles, to enhance the division of roles between the public and private sectors and go over tangible business models,” the ministry said after the meeting at the Government Complex Seoul in central Seoul. “He also expressed the will to capitalize on environmental technology to take the initiative on the global stage.”
Korea determined its NDC during the previous Moon Jae-in administration in October 2021 at a meeting of the presidential committee on carbon neutrality and related government ministries.