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Assessment Of The Enhanced Nationally Determined Contributions Of The Republic Of Korea And The Strategies For The 2050 Net-Zero Target

Author

Listed:
  • (Corresponding author) Tae Yong Jung
  • Jaewan Kim
  • Jongwoo Moon
  • Yong Gun Kim

Abstract

The Republic of Korea has made a net-zero pledge and submitted enhanced nationally determined contributions (NDCs), targeting a 40 per cent reduction in gashouse emissions by 2030 compared to 2018 levels. This article provides a review of the country’s mitigation progress by evaluating its NDCs and 2050 net-zero commitments. Three key challenges are identified: limited time window to meet the targets; energy transition difficulties; transforming carbon-intensive industries. A SWOT analysis informs strategic directions in four areas: accelerating low-carbon transitions in key sectors; enhancing mitigation policy effectiveness in building stakeholder consensus on transition costs; bolstering international cooperation for carbon neutrality.

Suggested Citation

  • (Corresponding author) Tae Yong Jung & Jaewan Kim & Jongwoo Moon & Yong Gun Kim, 2023. "Assessment Of The Enhanced Nationally Determined Contributions Of The Republic Of Korea And The Strategies For The 2050 Net-Zero Target," Asia-Pacific Sustainable Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 30(1), pages 43-66, May.
    • Handle: RePEc:unt:japsdj:v:30:y:2023:i:1:p:43-66
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    References listed on IDEAS

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    More about this item

    Keywords

    SWOT analysis; low-carbon transition; emission trading scheme; stakeholder involvement; international cooperation;
    All these keywords.

    JEL classification:

    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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