The EU and the Republic of Korea established a green partnership on climate and environmental protection, as well as a fair energy transition and other areas of the Green Deal.
The parties reaffirmed their commitment to keep global temperature rise below 1.5°C, achieve climate neutrality no later than 2050, and reduce greenhouse gas emissions by 2030, The European Sting reports.
It is noted that the document was signed by the President of the European Commission, Ursula von der Leyen, and the President of Korea, Yoon Suk Yolem, at the EU-Korea summit in Seoul.
"The EU and the Republic of Korea share the desire for a climate-neutral future. The launch of our Green Partnership will help us achieve this goal," von der Leyen said.
It is noted that the EU-Korea green partnership will cover a number of key areas, namely:
- strengthening efforts to combat climate change, including cooperation on climate adaptation, carbon pricing, methane emissions and climate finance;
- strengthening cooperation in environmental issues related to stopping the loss of biodiversity, degradation and deforestation, promoting the circular economy and consideration of the full life cycle of plastic, as well as the implementation of the Kunming-Montreal Global Framework Program for Biodiversity Conservation;
- supporting the transition to green energy through cooperation in the field of RES, hydrogen, batteries and ecological mobility, energy efficiency, a fair transition from coal-based electricity generation, as well as carbon capture, utilization and storage (CCUS);
- cooperation with third countries to facilitate their green transition, in particular in the field of climate change mitigation, adaptation and sustainability, transition to clean and fair energy and circular economy;
- joining efforts in other areas , such as business cooperation, sustainable finance, research and innovation, sustainable food systems and supply chains, and social projects.
As part of the partnership, Korea and the EU have agreed to promote climate action in the international arena and multilateral forums, including as the main donors of climate finance, and to promote a just transition in third countries. The parties will cooperate to support the environmental and climate policies of developing countries.
As EcoPolitic previously reported, the US is negotiating with the EU and other trading partners to conclude a new agreement on environmental steel.
