South Korea's Climate Challenge: Bridging The 1.5°C Ambition Gap.pdf

CT2022-South-Korea-Web.pdf
Preview of South Korea's Climate Challenge: Bridging the 1.5°C Ambition Gap
🔗 Source: climate-transparency.org
📊 Size: 3.25 MB
📄 Pages: 20 pages
⬇️ Downloads: 45

Summary

- Current Situation: South Korea's per capita greenhouse gas (GHG) emissions are 1.77 times the G20 average, with a 2% increase from 2014 to 2019. Its NDC target, submitted in December 2021, aims for a 40% reduction below 2018 levels by 2030, but this would result in emissions 48% above 1990 levels (approximately 468 MtCO2e).

- Ambition Gap: To meet the 1.5°C temperature limit, South Korea's emissions should be around 288 MtCO2e by 2030, leaving a significant ambition gap of about 180 MtCO2e.

- Key Opportunities:
- Enhance the Emissions Trading Scheme (ETS) by reducing allowances and expanding coverage to high-emitting companies.
- Reform the electricity market by increasing renewable energy capacity and expanding Power Purchase Agreements.
- Accelerate the phase-out of coal power by 2050, aligning with global climate goals.

- Socio-Economic Context:
- High Human Development Index (HDI) and GDP per capita.
- Projected population decrease of 9.5% by 2050 and increasing urbanization.
- High rates of heat-related deaths (around the G20 median) due to urban heat islands and rising temperatures.

- Adaptation Needs:
- Increase resilience to adverse climate impacts, including sea-level rise, increased frequency/intensity of typhoons, and changes in agricultural productivity.

Description

South Korea's current emissions pathway is not compatible with the 1.5°C temperature goal, aiming for a 40% reduction by 2030 below 2018 levels, but this still leaves a significant gap of approximately 180 MtCO2e to meet its 'fair share' contribution. Its updated NDC target is 48% above 1990 levels, requiring substantial strengthening to align with the Paris Agreement's 1.5°C limit.

Technical Information

  • File Format: PDF
  • File Size: 3.25 MB
  • Pages: 20
  • Language: EN
  • Total Downloads: 45
  • Last Updated: 2 weeks ago

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