“The 「2050 Carbon Neutrality Scenarios」 will be announced at the end of October together with the 「2030 Nationally Determined Contributions (2030 NDC)」”
- Announced the“2050 Carbon Neutrality Scenario(draft)” establishment schedule and operation timetable of the Technical Working Group(W/G) of the 2050 Carbon Neutrality Commission -

□ The 2050 Carbon Neutrality Commission(hereinafter referred to as the ‘Commission’ : Co-Chairpersons: Prime Minister Kim Boo-kyum(representing Gov’t sector), Prof. Yun Sun-Jin(representing the civil sector) (hereafter referred to as the ‘Commission’) held the Comprehensive Planning Commission* at 14:00 on June 30 (Wednesday) to establish the “2050 Carbon Neutrality Scenarios (hereinafter referred to as the ‘2050 Scenarios’)” and reviewed future timelines.
* (Composition) A total of 18 people including the private sector Co-Chairperson, 8 Sub-Commissions Chairperson/Secretary (Function) Overall coordination of the Commission, including selecting a discussion agenda and determining the timing of the event.

ㅇ The following is a summary of the Commission's major decisions.

□ The Commission decided to establish 2050 Scenarios and present them at the end of October.

ㅇ First of all, given that the launch of the Commission is going to be delayed by approximately 3 months (February → May), it is necessary to secure time to review the 2050 Scenarios at the Commission level. Such delay was inevitable given the time to communicate and prepare procedures not only with experts but also various stakeholders and the general public, which is of paramount importance.

ㅇ Additionally, as the timeline for upgrading the “2030 Nationally Determined Contributions (hereinafter referred to as ‘2030 NDC’)” has been moved forward (within the current Government term → during the 26th Conference of the Parties(COP26) of the UNFCCC in early November), there is a need to review this initiative in the context of the 2050 Carbon Neutrality Scenarios.

ㅇ Accordingly, the Commission decided to announce the Scenarios at the end of October, given the need to comprehensively review them internally and to secure sufficient time to collect public opinions and link with the 2030 NDC.

□ The Commission decided to establish 2050 Scenarios and present them at the end of October.

ㅇ First of all, given that the launch of the Commission is going to be delayed by approximately 3 months (February → May), it is necessary to secure time to review the 2050 Scenarios at the Commission level. Such delay was inevitable given the time to communicate and prepare procedures not only with experts but also various stakeholders and the general public, which is of paramount importance.

ㅇ Additionally, as the timeline for upgrading the “2030 Nationally Determined Contributions (hereinafter referred to as ‘2030 NDC’)” has been moved forward (within the current Government term → during the 26th Conference of the Parties(COP26) of the UNFCCC in early November), there is a need to review this initiative in the context of the 2050 Carbon Neutrality Scenarios.

ㅇ Accordingly, the Commission decided to announce the Scenarios at the end of October, given the need to comprehensively review them internally and to secure sufficient time to collect public opinions and link with the 2030 NDC.

ㅇ The main issues that require a close review of the Technical Working Group(W/G) (draft) include: △whether to maintain coal-fired power generation(energy transformation); △appropriateness of the forecast for energy demand in the industrial sector(industry); △conversion of transportation from internal combustion engines into eco-friendly vehicles (transportation); △reforestation, particularly as a source of absorbent materials, etc. △ecosystem impact (carbon sinks), △feasibility of CCUS, and appropriateness of emissions reduction calculations (CCUS). The Commission is conducting in-depth discussions and analyses on various issues through Sub-Commissions and expert Commissions.

ㅇ In the future, the Commission plans to identify draft carbon neutrality Scenarios by closely examining various data together with the draft prepared by the Technical Working Group(W/G). The final government draft will be completed after consulting all the stakeholders and the general public.