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Low-emission Development Strategies (LEDS) to Achieve Industrial Transition

Author Lee, Sangwon Date 2020.10.23 Issue No
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With global interest in responding to climate change heightened by COVID-19, countries are establishing long-term low-emission development strategies (LEDS).

● The Paris Convention recommends that signatory states establish 2050 LEDS plans, which present a long-term vision to respond to climate change, and submit them to the United Nations by 2020.

● The Korean government is also preparing a long-term vision and strategy responding to climate change, and is conducting feasibility studies for each sector. 

 

Key countries are viewing the strategy for achieving the low-emission goals by 2050 as a powerful means for economic recovery in the post-COVID-19 era, focusing on turning the strategy into one that drives future growth.

● Countries that have submitted their 2050 LEDS have set long-term reduction targets for CO2 emissions for each sector as well as specific means for achieving the goals in expressing their firm commitments.

● Critical to the reduction of industrial carbon emissions is improving energy efficiency, making the transition to clean energy, and establishing a circular economy. Other strategies require aggressive investment and commercialization of innovative processes and products. 

 

Korea needs its own long-term vision and strategy to improve its global industrial competitiveness and reduce the massive costs of technological uncertainty.

● The country must secure low-carbon fuels and processes and innovative, emissions-reducing technologies.

● It also needs a detailed roadmap for the stable supply of green hydrogen and energy and appropriate pricing for them.?