Korea unveils blueprints to attain carbon neutrality by 2050

Media Report



South Korea said Monday it plans to overhaul a taxation scheme related to carbon emissions and set up a fund designed to fight climate change in a bid to achieve the goal of carbon neutrality by 2050. The country also plans to accelerate the reduction of reliance on coal as it nurtures eco-friendly industries and builds up the low-carbon economic structure to effectively reduce carbon emissions to zero by that year. President Moon Jae-in announced in October that the country will seek to go carbon neutral by 2050 in an effort to transform the country’s fossil-fuel reliant economy into an eco-friendly one.