Policy & Regulation

13 May 2020

South Korea Wants to Double Renewables Target by 2034

13 May 2020  by   
The Korean government currently aims to raise the share of renewables to 20%.

South Korea could ramp up its shift toward renewable power, and away from coal and nuclear, under a proposal by a government working group tasked with helping shape its energy future, Bloomberg reported.

The group, advising the Ministry of Trade, Industry and Energy, has proposed aiming for renewable sources to account for 40% of the nation’s power by 2034. The current plan targets 20% by 2030.

Governments, companies and financial institutions are under pressure to move away from carbon-emitting fossil fuels as warnings over the pace of global warming grow more dire.

South Korea is crafting its new energy mix in the wake of the landslide election victory last month of President Moon Jae-in’s Democratic Party, which campaigned pledging a “Green New Deal” that promised to end the country’s net carbon emissions by 2050.

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