The government and industry representatives convened to discuss improvements to the emissions trading system and power purchase agreements (PPA) aimed at facilitating corporate green transitions.
On September 4, the Ministry of Climate Energy and Environment held a policy meeting with executives from member companies of the Korea Business Council for Sustainable Development (KBCSD) at the Westin Seoul Parnas in Gangnam.
About 30 attendees, including Oil-Young, Director of the Climate Energy Policy Office at the ministry, and Hong Hyun-jong, Secretary General of KBCSD, participated in the meeting to address challenges faced by the industry in the climate, energy, and environmental sectors and to discuss potential regulatory improvements.
Key topics included the rationalization of the emissions trading system, enhancements to the PPA framework, promotion of low-carbon steel product purchases, and strengthening government support measures.
The ministry plans to review the suggestions made by industry representatives and communicate reasonable regulatory improvements and support measures.
Since 2014, the Ministry of Climate Energy and Environment and KBCSD have held biannual policy consultations to discuss regulations and challenges in the climate, energy, and environmental sectors.
Oil-Young stated, "The decarbonization and green transition of companies are becoming new benchmarks for competitiveness. We will enhance the system to allow companies to invest boldly in a predictable environment and will implement comprehensive support policies to help them become global leaders."
* This article has been translated by AI.
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