South Korea set a goal to close all coal power plants by 2050 to achieve carbon neutrality. To achieve the goal, the country plans to reduce the amount of greenhouse gases to 40 percent of the 2018 level by 2030.
The presidential committee on carbon neutrality by 2050 deliberated and passed “2050 carbon neutrality scenarios” and “revised plan for 2030 nationally determined contributions (NDC),” containing the above goals at a plenary meeting on Monday. There are two scenarios to achieve carbon neutrality by 2050 – A. removing all coal and LNG power plants and B. removing only coal power plants.
A massive energy transition is predicted for the next 30 years. Coal power plants, which accounted for the highest share in South Korea’s energy production last year, will disappear by 2050. Meanwhile, the share of renewable energy, such as solar and wind power, will rise from 6.6 percent to 60.9 to 70.8 percent by 2050.
The plan will be confirmed at the Cabinet meeting on October 27. The 2030 NDC will be announced by the government at the 2021 United Nations Climate Change Conference to be held in Glasgow next month. “To ensure the national economy’s sustained growth and enhance national competitiveness, we will accelerate the process to reach carbon neutrality,” said South Korean President Moon Jae-in.