(EDITORIAL from the Korea Times on Nov. 18)

Emission cut target

On Tuesday, South Korea announced a voluntary target to cut greenhouse gas
emissions by 4 percent by 2020 from the 2005 level. This target may be seen as
meager compared with environmentalists' request for a 25-percent reduction.

But
policymakers claim that it is the maximum figure developing nations such as Korea
can commit to. They say that the country is to curtail its emissions of carbon
dioxide and other global-warming gases by 30 percent from its forecasted ??? or
business as usual (BAU) ??? level in 2020.
It is meaningful that Korea has come up with the voluntary target ahead of the
U.N. climate change conference in Copenhagen this December. It is expected that
the country can actively join international efforts to combat climate change
although pessimism is growing over the prospect of the meeting designed to map
out a new treaty to replace the Kyoto Protocol, which will expire in 2012.
Regardless of the conference's success or failure, the nation is required to
concentrate on translating its target into action as scheduled.
Setting the reduction framework on Tuesday, President Lee Myung-bak was quoted as
telling the Cabinet meeting, ``Today marks a historic meeting. We must now think
hard about ways to bring greater good to our national interest by reducing
greenhouse gas emissions." He said the move will be a chance to contribute to
global efforts to fight global warming, but also an opportunity to significantly
raise the country's status in the international community.
Now, Lee and his policymakers should work out detailed measures to faithfully
implement the target and push for green growth. But this is easier said than done
because the nation's economic and industrial structure is too heavily dependent
on the manufacturing sector that consumes excessive fossil fuels and exhales
carbon dioxide. Korea is the world's ninth-biggest emitter of greenhouse gases.
For this reason, corporations and their lobbying groups immediately protested the
government move, claiming that the target is too high for them.
Their complaints are understandable because the reduction plan would require more
costs for facilities and technologies to slash their CO2 emissions. But,
businesses must bear in mind that they can no longer maintain the outdated
production mode. In other words, they will not be able to make sustainable growth
without a low-carbon revolution on a longer-term basis. It is a case of the
sooner the better in the sense of urgency, inevitability and significance of
action to stop global warming.
Samsung Electronics, the nation's IT leader, has already unveiled a plan to
reduce its CO2 emissions by 50 percent by 2013 from its 2008 level. It has also
promised to invest 5.4 trillion won into research and development to set up green
production lines. The Samsung efforts can be a good example for other companies
to follow in order to join the national and international efforts for low carbon.

In addition, all economic players ??? the government, businesses and consumers
??? should join hands to improve energy efficiency, use more renewable energy
sources, and develop green technology in the fight against climate change. The
emission reduction target is not an option but a necessity. It provides not only
challenges but also opportunities for Korea to set the stage for green growth.
(END)