South Korea Pledges 450 Trillion Won for Green Finance by 2030

During the Carbon Neutrality Grand Alliance Declaration Ceremony, South Korea's Prime Minister Han Duck-soo emphasized the urgency to fight climate change. He spotlighted how the climate crisis is becoming unpredictable and disrupting people's daily lives.

Historic Investment in Green Finance

The South Korean government has promised to invest 450 trillion won in green finance by 2030. The amount seeks to provide enough support for the acceleration of transition into a low-carbon economy. Acting Chairman Han underscored that carbon neutrality is an irreversible global trend, with over 90% of economies committing themselves to eco-friendly transitions.

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Addressing Global Climate Challenges

Han pointed out the extreme weather events: Seoul's worst snow in 117 years and tropical nights in autumn in France. He emphasized that his country needs to shift into carbon neutrality. Industrial emission constitutes 36% of total emissions in South Korea.

The South Korean economy is export-led; therefore, decarbonization is a must to stay competitive on the global market.

Finance as a Catalyst for Innovation

Finance plays a critical role in achieving carbon neutrality and encouraging innovation. Han emphasized that centering capital investment on climate and environmental goals can enhance companies’ future value. The government is upgrading the Korean-style green classification system to encourage private investment in sustainable projects.

Technology Development for Climate Response

South Korea is prioritizing technological innovation to combat climate change. The government announced the Basic Plan for Climate Change Response Technology Development and allocated 2.7 trillion won for implementation by 2025. This funding will support carbon-free energy development and foster the clean methanol industry, advancing the country’s net-zero goals.

With these comprehensive efforts, South Korea is taking decisive steps to address the climate crisis and strengthen its position in the global green economy.