South Korea ‘to cut emissions by 37% by 2030’

South Korea has planned to cut emissions by 37% by 2030. That’s an increase from the 15% to 30% reduction it initially proposed. The target is set to be submitted […]

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South Korea has planned to cut emissions by 37% by 2030.

That’s an increase from the 15% to 30% reduction it initially proposed.

The target is set to be submitted to the UN today¬†confirming the country’s Intended Nationally Determined Contribution (INDC).

That’s part of a new global emissions reduction deal which will be agreed at the Paris conference in December.

South Korea’s emissions are set to reach 850.6 million tonnes of CO2 equivalent by 2030 based on business-as-usual levels, according to the government.

The South Korean government has been reported as saying:¬†“We decided to raise the target from the reduction scenarios, considering our leadership in climate changes such as inviting GCF (Green Climate Fund), our global responsibility and opportunity to develop new energy business and innovate manufacturing sectors.”

The country has been working to tackle emissions, launching the world’s second largest carbon trading scheme and pioneering a major green stimulus package in the wake of the 2008 financial crisis.

So far, 11 countries and the EU have formally submitted climate action plans to the UN under the INDC regime including Switzerland, Norway and Mexico.