About Net Zero

• Net Zero : why is it necessary?

  When the global average temperature rises by 2℃ compared to pre-industrial times, the risk from climate change greatly increases. Therefore, all 195 parties to the Paris Agreement in 2015 promised to reduce greenhouse gas emissions.

  

  Starting with this, various entities such as local governments and companies around the world announced and promised to achieve the goal of achieving 2050 carbon neutrality. Korea also declared 2050 carbon neutrality and is refining the greenhouse gas reduction scenario, so the demand for greenhouse gas reduction efforts from companies is being intensified.
  
  In the past 10 years, the temperature has risen by 1.09 ℃ compared to pre-industrial times, and various extreme weather events are occurring in many countries due to climate change. As such, if the climate crisis is not addressed, climate change will not only cause extreme weather, but also food and environmental problems, and, consequently, enormous economic and social damage is expected.
  
  Accordingly, achieving the 1.5 degree target of the Paris Agreement adopted at COP21 in 2015 is becoming more important. In order to achieve the 1.5 degree target, Net Zero anthropogenic greenhouse gas emissions must be achieved by 2050. To this end, many countries are currently aiming for carbon neutrality by 2050.
• Net Zero Status in Korea
  

  As a responsible member of the international community, Korea needed to actively participate in responding to the climate crisis. In October 2020, as a national vision, Korea declared 2050 carbon neutrality and established a 2050 scenario as a follow-up measure.

  To achieve 2050 carbon neutrality with the vision of “a safe and sustainable carbon-neutral society from the climate crisis,” Korean government has presented the direction of detailed policies for each sector such as establishment of follow-up plans such as mid- to long-term energy plans, support for the development of greenhouse gas reduction technologies, and speed of social transformation, etc. In addition, the [Framework Act on Carbon Neutrality and Green Growth for Response to the Climate Crisis], which is the basis for laying the institutional foundation, came into effect in July 2022, and the goal of carbon neutrality for 2050 was legislated.
  
  As such, Korea has expressed its will to actively participate in responding to the global climate crisis, while preemptively responding to the global situation and accelerating efforts to reduce greenhouse gas emissions.

  [2050 Carbon Neutral Scenario] Download
• Net Zero status in countries around the world

  Including the UK, which enacted a “carbon neutral goal by 2050” for the first time among the G7 countries, the US is also intensively pursuing climate crisis response measures with the “goal to achieve Net Zero by 2050”. The EU, the US, the UK, and Japan, including Korea, have declared carbon neutrality and are working collaboratively around the world with carbon neutrality as an international common goal.

  

  The long-term goals were set with the national declaration for global response to climate change. Among them, the EU, which declared carbon neutrality by 2050, laid the groundwork for a bill related to the carbon border tax in 2018 and planned to proceed with its full-scale introduction in 2023.
  
  The carbon border tax, a system that imposes tariffs on products from countries that emit more carbon than their own, is expected to change the world trade flow, and the international community's economic and social transformation policies are being accelerated in response to the climate crisis
  
  In addition, Japan, Hungary, UK, EU, Spain, New Zealand, Germany, France, Denmark, etc. including Korea have enacted carbon neutrality laws and presented intermediate reduction targets for greenhouse gas reduction by 2030. The number of countries that enact carbon neutrality laws is expected to continue to increase.