According to a long-term climate technology cooperation plan announced by the Ministry of Science and ICT on Monday, South Korea will help developing countries reduce greenhouse gas emissions, with plans for the country to be a role model in upholding the Paris Agreement. (Image: Yonhap)
SEOUL, Apr. 25 (Korea Bizwire) — South Korea will help developing countries reduce emissions of harmful greenhouse gases by offering technological support, the science ministry has said.
According to a long-term climate technology cooperation plan announced by the Ministry of Science and ICT on Monday, South Korea will help developing countries reduce greenhouse gas emissions, with plans for the country to be a role model in upholding the Paris Agreement.
The plan, which awaits approval from a committee at the Presidential Advisory Council for Science & Technology, was set out with the hopes of contributing to the international effort to fight climate change.
The government will help reduce 860 million tons of greenhouse gas emissions among by 2030 using advanced technology, which represents 5 percent of the goal for all developing countries that are part of the Paris Agreement.
The move could protect 100 million people whose lives are at risk as a result of climate change.
Since being allotted its own Nationally Determined Contribution in December 2015 when the Paris Agreement was signed, South Korea has helped developing countries with climate technology alongside international organizations.
Over the next 12 years, South Korea will pursue climate technology cooperation projects worth $10 billion, including plans to build offices for the Climate Technology Centre and Network in the Asia-Pacific Region.
“The Green Climate Fund (GCF) will be the most important source of financing for our climate technology cooperation projects, which are projected to expand to 100 billion dollars in economic value by 2020,” an official at the Ministry of Science and ICT said.
Some of the major strategies set out by the ministry include the localization of advanced climate technology and providing support through international funds including the GCF and Multilateral Development Bank.
The ministry will also put efforts into advancing Climate Technology Information Systems (CTIs) and strengthening specialized institutions like the Green Technology Center, in a bid to train staff both at home and abroad.
Hyunsu Yim (hyunsu@koreabizwire.com)
