News Briefing
Government to reduce greenhouse gas emissions
Sep 2022
Deputy Prime Minister Choo Kyung-ho presided over the 230th Ministerial Meeting on International Economic Affairs on August 19 to discuss four major external issues: implementation plans for Indo-Pacific Economic Framework (IPEF), ways to strengthen economic cooperation with China, frameworks to implement international greenhouse gas emissions reduction projects and plans to prevent unfair competition and protect trade secrets. In addition, the 143rd Economic Development Cooperation Fund (EDCF) Management Committee Meeting was held following the ministerial meeting to discuss four issues: ways to facilitate the contribution of the private sector in EDCF, EDCF’s Program Loan management strategies, ways to improve support for African countries via EDCF and support for EDCF-CABEI Co-financing Facility.
At the Ministerial Meeting on the International Economic Affairs, the government released frameworks to implement international greenhouse gas emissions reduction projects as the government revised up the nationally determined contributions (NDC) target and committed to achieving a bold international greenhouse gas emissions reduction goal last year.
- Set up a pan-ministerial platform to facilitate the international emissions reduction projects and establish related rules and legal systems as soon as possible
- Expand bilateral agreements between governments to allow transfer of greenhouse gas emissions reduction
- Encourage Korean companies to expand overseas business opportunities by channeling public funds into the private sector
At the Ministerial Meeting on the International Economic Affairs, the government released frameworks to implement international greenhouse gas emissions reduction projects as the government revised up the nationally determined contributions (NDC) target and committed to achieving a bold international greenhouse gas emissions reduction goal last year.
- Set up a pan-ministerial platform to facilitate the international emissions reduction projects and establish related rules and legal systems as soon as possible
- Expand bilateral agreements between governments to allow transfer of greenhouse gas emissions reduction
- Encourage Korean companies to expand overseas business opportunities by channeling public funds into the private sector
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