The Democratic Party and the People Power Party have agreed on a revision to the Framework Act on Carbon Neutrality that specifies national greenhouse gas reduction targets from 2035 to 2045 in law. The agreement comes about a year after the Constitutional Court ruled the country's greenhouse gas reduction pathway for 2031-2049 unconstitutional on the grounds that it was not stipulated in law.
The National Assembly's Special Committee on the Climate Crisis held a meeting of its Carbon Neutrality Framework Act review subcommittee on the 22nd and approved the revision to the "Framework Act on Carbon Neutrality and Green Growth for Coping with Climate Crisis" containing these provisions. The revision is set to be processed at a plenary session after passing the special committee's full meeting and the Legislation and Judiciary Committee.
The revision sets mid- to long-term national greenhouse gas reduction targets for 2031-2049 in five-year intervals and stipulates them in law in the form of a range with upper and lower bounds. Based on reduction rates relative to 2018 emissions, the targets are to be set by presidential decree within ranges of 53-61% for 2035, 69-80% for 2040, and 84-90% for 2045.
The lower bound is based on a linear reduction pathway toward achieving carbon neutrality by 2050, while the upper bound is based on a reduction pathway reflecting the Paris Agreement's goal of limiting the rise in global average temperature to 1.5 degrees. The lower-bound standard applies to regulations such as the emissions trading scheme.
The revision also includes a provision requiring that, when setting mid- to long-term reduction targets, the impact on groups vulnerable to the climate crisis, scientific facts about climate change, international standards, the level of secured reduction measures, and industry implementation conditions be comprehensively considered. It also establishes grounds for the government to provide administrative and financial support needed for research and development, facility investment, and commercialization.
In addition, reflecting the intent of the Constitutional Court's ruling, the revision specifies the principle that mid- to long-term reduction targets must be set in line with the international community's reduction efforts and not pass an excessive burden onto future generations.
Kim Jung-ho, chairman of the Special Committee on the Climate Crisis, said, "We have resolved the legal gap in mid- to long-term reduction targets pointed out by the Constitutional Court and have also established principles for target-setting and grounds for industry support." He added, "This will serve as an opportunity to enhance the predictability and continuity of carbon neutrality policy."
