South Korea follows Japan and China in carbon neutral pledge

South Korea follows Japan and China in carbon neutral pledge

Moon Jae-in promises green transition as part of coronavirus recovery package

South Korea has become the third big Asian economy to pledge carbon neutrality, marking a big victory for environmentalists after intensifying pressure on one of the world’s biggest polluters.

President Moon Jae-in promised that his country would achieve net zero emissions by 2050 and pledged to spend Won8tn ($7bn) on green-focused growth as part of an unprecedented financial stimulus to combat the economic fallout from the coronavirus.

“We will move towards the goal of becoming carbon neutral by 2050 by actively responding to climate changes together with the international society,” said Mr Moon, who was speaking to the National Assembly in Seoul on Wednesday.

“We will replace coal power with renewable energy and create a new market, industry and jobs.”