South Korea has officially committed to reducing national carbon emissions by 40 percent of 2018 levels by 2030 ahead of the upcoming UN COP26 climate summit in Glasgow, a "very challenging target" compared with an initial 26.3 percent goal.
It also vowed carbon neutrality by 2050.
South Korea is one of the world's most fossil-fuel reliant economies, with coal making up over 41 percent of the country's electricity mix and renewable power just over 6 percent.
So, how feasible is this amibitious goal and how viable the two scenarios proposed?
South Korea's new NDC target: It's the topic of our News In-depth tonight.
Joining us live in the studio is Professor Chung Suh-yong of Korea University and Director of Center for Climate and Sustainable Development Law and Policy of Seoul International Law Academy.
So, the government laid out two scenarios to achieve this "very challenging target" of a 40 percent reduction of 2018 levels by 2030. So, even with these scenarios, practically speaking, how feasible is this? How does it compare with other countries?
Let's go into the specifics. First, the plan laid out by the South Korean government states that it will adopt new technology for carbon capturing and sequestration. There is also a plan on reducing carbon emissions overseas. What does this mean and how viable is it?
On the other hand, there are those who point out that the reduction target for industries with the highest carbon emissions is relatively small. Do you agree with this?
In order for the nation to achieve this goal, it definitely seems like the society as a whole will need to change significantly and of course, cost for individuals to bear as well. What will that be?
All in all, a new NDC of 40 percent, are you satisfied with it as an expert in this area?
Professor Chung Suh-yong, many thanks for your insights. We appreciate it.