Low-emission Development Strategies (LEDS) to Achieve Industrial Transition
|Author||Lee, Sangwon||Date||2020.10.23||Issue No|
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.？