Daily Sustainability News Clipping, 5 Feb 2024
1. Korean Government begins to establish NDC in 2035... Must be submitted to the UN next year
The government plans to soon begin work on establishing a national greenhouse gas reduction target (NDC) for 2035, including forming a consultative body of experts and related ministries. To achieve NDC, the Carbon Comprehensive Green Growth Committee will reform the carbon emissions trading system, expand renewable energy, accelerate the supply of eco-friendly vehicles, reduce greenhouse gases through energy efficiency improvement and innovative technology development, improve energy efficiency of old buildings, and use electricity to manage energy demand. He pointed out the need for rate rationalization. To implement the NDC, the Ministry of Environment announced that it will support 127.7 billion won this year for the installation and replacement of reduction facilities such as fuel conversion and will implement a pilot project next year to introduce a carbon balance contract system to induce technological innovation. In addition, the Ministry of Environment. They announced that they would improve the carbon emissions trading system in a way that benefits companies that are active in carbon reduction.
https://lnkd.in/gFFbuSpH
2. European Central Bank announces two-year roadmap for green economy transition
The European Central Bank (ECB) announced the ‘2024-2025 Climate and Nature Plan’, a roadmap for the transition to a green economy, on the 30th (local time). The roadmap sets out key actions related to the new focus areas. The focus areas were ▲ exploring the transition to a green economy ▲ responding to the increasing physical impacts of climate change ▲ identifying economic and financial risks of nature destruction and biodiversity loss. To explore the transition to a green economy, the ECB said it would undertake activities such as assessing the impact of transition funds on the monetary policy mechanism, assessing green investment needs and analyzing the structural consequences of the transition, and developing a macroeconomic modeling framework.
https://lnkd.in/gkfF_wiP
3. Google signs contract to purchase more than 700 MW of clean energy power in Europe
Google announced on the 1st that it has signed more than 700 MW of clean energy power purchase agreements (PPAs) across Europe. Through this, Google will provide more than 90% of clean energy in about 85 regions, including the Netherlands, Italy, and Poland, in the next few years. Carbon energy can now be used. Google evaluates this agreement as an important step toward achieving 24/7 CFE Compact by 2030.
https://lnkd.in/gqFiTRfK
Student at Indira Gandhi National Open University
2moSo beautiful 😊