South Korea to implement Green New Deal after ruling party election win: Climate Home News

Published on 16/04/2020, 10:25am
 

Seoul is to set a 2050 net zero emissions goal and end coal financing, after the Democratic Party’s landslide victory in one of the world’s first Covid-19 elections 

South Korean President Moon Jae-in's landslide victory in the country's parliamentary election gives his party a clear mandate to implement its Green New Deal (Photo: Republic of Korea/Jeon Han/Flickr)

By Chloé Farand

South Korea is on track to set a 2050 carbon neutrality goal and end coal financing after its ruling Democratic Party won an absolute majority in the country’s parliamentary elections on Wednesday.

President Moon Jae-in’s party won a landslide 180 seats in the 300-member National Assembly, up from 120 previously, in a huge show of faith in his handling of the coronavirus pandemic.

The Democratic Party’s decisive victory will enable President Moon to press ahead with its newly adopted Green New Deal agenda during the last two years of his mandate.

Under the plan, South Korea has become the first country in East Asia to pledge to reach net zero emissions by 2050.

As part of the Paris Agreement, countries have agreed to submit updated climate plans to 2030 and long-term decarbonisation strategies to the UN before the end of the year.

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In its climate manifesto published last month, the Democratic Party promised to pass a “Green New Deal” law that would steer the country’s transformation into a low-carbon economy.


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