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S. Korea's National Assembly passes Framework Act on Carbon Neutrality and Green Growth Updated: 2021-09-01 13:38:42 KST

South Korean lawmakers on Tuesday passed the Framework Act on Carbon Neutrality and Green Growth, one that's expected to serve as a basis for reducing greenhouse gas emissions.
The legislature stipulates the goal of cutting emissions in 2030 by 35 percent or more from 2018 levels.
The 2030 reduction goal is dubbed internationally as the 'nationally determined contribution,' or NDC, which indicates each country's efforts to slash emissions in accordance with the 2015 Paris Agreement.
This makes South Korea the 14th country to legislate a carbon neutrality act.
The act also provides legal backing for the country's presidential committee on carbon neutrality that was launched in May.
Local business circles have expressed concerns over the legislature, saying it does not fully reflect their opinions.
South Korea's five major business organizations, including the Korea Chamber of Commerce and Industry and Korea International Trade Association, have pointed out that South Korea has a lot of manufacturing industries compared to many other advanced countries.
While acknowledging the 2050 carbon neutrality goal is an inevitable global vision going forward, they also urged the government to lay out specific goals and strategies by sufficiently reflecting the short period of time Korea has to achieve its goal.
Kim Hyo-sun, Arirang News.
KOGL : Korea Open Government License
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