South Korea Climate Framework Law

Laws and Policies

CCLW

CCLW national policies

Carbon Neutral Green Growth Framework Act to tackle the Climate Crisis

Framework Act On Low Carbon, Green Growth 

Official English Translation of the Carbon Neutral Green Growth Framework Act

Enforcement Decree

Entry into force

Approved

This Act commits South Korea to achieving carbon neutrality by 2050. It repeals and replaces the Framework Act on Low Carbon Green Growth. South Korea has also passed an executive Enforcement Decree, which is the implementing regulation for this Law.
Article 3 of the Act stipulates that a transition to a carbon-neutral society and green growth shall be promoted according to the following criteria: 1) the principle of intergenerational equity, 2) a comprehensive crisis response strategy that take into account external circumstances and the economic landscape, 3) establish adaptation and mitigation policies that are comprehensive of all sectors and based on scientific predictions, 4) climate justice and just transition, 5) the polluter pays principle by reorganizing the tax system and financial system, 6) strengthening investment and support for green technologies and green industries with high growth potential and competitiveness, and create jobs, 7) ensure democratic participation, and 8) actively participate in the efforts of the international community to limit the increase in global average temperature to a maximum of 1.5 degrees Celsius compared to pre-industrial levels, do not undermine environmental and social justice in developing countries, and Strengthen cooperation to support the response.
The Act requires the government to cut its greenhouse gas emissions in 2030 by 35% or more from the 2018 levels and consists of several policy measures to achieve carbon neutrality by 2050 (chapter 2). This target was amended to 40% in the Enforcement Decree (the Law's implementing regulation).
The Act establishes:
- the national carbon-neutral green growth master plan (chapter 3)
- the 2050 Carbon Neutral Green Growth Committee (chapter 4)
- the Climate Response Fund (Chapter 10) in order to effectively respond to the climate crisis and secure the financial resources necessary to promote the transition to a carbon-neutral society and green growth
The Act sets a range of adaptation obligations to the State (chapter 6). Those shall include:
1. Matters concerning the improvement of monitoring, prediction, provision and utilization of climate crises;
2. Matters concerning the assessment of the impact and vulnerability of climate crisis by sector and region;
3. Matters concerning adaptation measures to climate crisis by sector and region;
4. Matters concerning the prevention of disasters for the vulnerable classes, regions, etc. due to the climate crisis;
5. Matters concerning international agreements for adaptation to the climate crisis, etc.
6. Other matters prescribed by Presidential Decree as necessary for adaptation to the climate crisis.

Enforcement Decree of the Framework Act on Carbon Neutrality and Green Growth for Coping with Climate Crisis

Passed

This is the implementing regulation for South Korea's climate framework law, the "Framework Act on Carbon Neutrality and Green Growth for Coping with Climate Crisis". It sets out in detail how provisions in the law will be enacted. It also amends the interim target to 40% reduction by 2030.

Enforcement Decree of the Framework Act on Carbon Neutrality and Green Growth for Coping with Climate Crisis 

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Carbon Market Regulations Tracker offers standardised summaries and direct links to relevant regulations concerning baseline-and-crediting market activities, within voluntary carbon markets and those under Article 6 of the Paris Agreement.

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A subsidy is a direct or indirect payment to individuals or businesses, typically provided as a government cash payment or a specific tax reduction.

A loan is a policy instrument where funds are provided to a borrower with the expectation of repaying the principal plus interest.

A financial institution that manages a country's currency and can promote climate-related initiatives through green monetary policy and other means.

A commitment to balance GHG emissions with removal by a certain point in time, effectively reducing the net emissions to zero

An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

A target to reduce the prevalence of a greenhouse gas over a specific time frame

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Aligning the skills of the workforce with the requirements of the just transition

work that is productive and delivers a fair income, security in the workplace and social protection for all, better prospects for personal development and social integration, freedom for people to express their concerns, organize and participate in the decisions that affect their lives and equality of opportunity

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil gas, commonly known as natural gas, is a fossil fuel consisting chiefly of methane with smaller amounts of other hydrocarbons and trace gases, found in underground deposits.

People who are less able to respond to the effects of climate change due to having limited financial or physical assets

woman and genders outside of the gender binary

People whose health, both mental and physical, makes them more vulnerable to the effects of climate change

Activities involving the catching, processing, and selling of fish for food, recreation, and industry.

Activities of businesses and institutions that provide financial services and products to individuals and organisations.

The activities of industries that transforms raw materials into finished goods through industrial processes.

The activities of industries involved in the production, distribution, and sale of energy, including electricity, gas, and renewables.

Activities that provide lodging, food, and entertainment services to guests, including hotels, restaurants, and resorts.

Activities that relate to the production of goods and services from forests.

This sector involves managing waste treatment, sanitation, pollution control and environmental cleanup.

Activities that involve the cultivation of crops and raising of livestock for food, fibre, and other products essential for human life and industry.

Activities that involve planning, designing and building infrastructure, residential, and commercial structures.

This sector provides communication services, software development, and IT solutions.

Activities of government agencies and institutions that provide public services, enforce laws and manage public resources.

This sector involves activities to move goods and people, alongside the storage of products.

This sector involves activities that impart knowledge and skills to individuals, including formal schooling, vocational training and educational support.

Slow onset events evolve gradually from incremental changes over many years or from increased frequency or intensity of recurring events. As defined in the Cancun Adaptation Framework (2010), slow onset events include risks and impacts from rising temperatures, desertification, biodiversity loss, land and forest degradation, glacial retreat, ocean acidification, sea level rise, and salinization.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Area of the economy in which actors engage in identical or related activities.

Financial actors and resources that are primarily directed towards climate change mitigation, adaptation and compensation.

An enterprise or financial institution that is usually majority-owned, backed or significantly controlled by nation-state governments.

Enforcement Decree of the Framework Act on Carbon Neutrality and Green Growth for Coping with Climate Crisis

Summary

Documents

About this policy

Topics mentioned most in this policy
Beta

Part of a collection

South Korea Climate Framework Law

Note

Enforcement Decree of the Framework Act on Carbon Neutrality and Green Growth for Coping with Climate Crisis

Summary

Documents

About this policy

Topics mentioned most in this policy Beta

Part of a collection

South Korea Climate Framework Law

Note

Topics mentioned most in this policy
Beta