What is carbon neutrality?

Achieving net zero carbon emissions through “Reduction + Absorption” of greenhouse gases

Net-Zero refers to reducing net emissions to zero, so that the concentration of carbon dioxide in the atmosphere does not increase any further. This means reducing greenhouse gases, increasing absorption of remaining greenhouse gases through forest restoration, etc., or removing them using technology.

Why carbon neutrality?

Despite global efforts to reduce greenhouse gas emissions, emissions continue to increase

In the 2015 Paris Agreement, it was agreed to submit long-term low-carbon development strategies (LEDS) and national greenhouse gas reduction targets (NDCs) to limit the global average temperature increase to 2 degrees Celsius compared to pre-industrial levels and further achieve 1.5 degrees Celsius. This was discussed under the premise that it was impossible to achieve the target temperature with the existing NDCs and that a new, powerful reduction strategy was necessary. In this agreement, the Intergovernmental Panel on Climate Change (IPCC) had to present a path to achieve the agreement, and the 1.5 degree limit pathway set the goal of a 45% reduction by 2030 compared to 2010 and carbon neutrality (Net-zero) by 2050, and the 2 degree limit pathway set the goal of a 25% reduction by 2030 compared to 2010 and carbon neutrality (Net-zero) by 2070.

Carbon Neutral Strategy

Energy supply sector: 50-65% of primary energy supply and 70-85% of electricity generation to renewable energy by 2050.

Industry : Reduce emissions by 75-90% by 2050 compared to 2010 through new technologies and electrification.

Building Sector : Replace 55-75% of energy consumption with electricity by 2050

Transport Sector : Replace 35-65% of energy use with low-carbon fuels

Land Use : 800 million hectares of grassland and 500 million hectares of land for food production to be converted to 100-700 million hectares for energy production and 100-1 billion hectares for forests by 2050.

<Sustainable ESG Center Han Jin-seok>