By Diplomacy Journal Lee Jon-young

President Yoon Suk-yeol said on Nov. 19 (local time) that South Korea will actively play the role of a “green ladder” for countries vulnerable to climate change.

Attending the G20 Summit's third session on sustainable development and energy transition, President Yoon explained Korea's contribution to overcoming the climate crisis and transitioning to clean energy.

First, President Yoon said that the clean energy transition is essential to achieving the 2050 carbon neutrality goal, but the burden is falling on emerging and developing economies.

“I proposed the Carbon-Free Energy (CFE) Initiative at the UN General Assembly last year, and my government launched the CFE Global Working Group with partners at the Clean Energy Ministerial meeting in October,” Yoon said, adding, ”In the future, Korea will further expand the CFE Initiative by developing a carbon-free energy certification system.”

He also emphasized Korea's commitment to playing a role in the “green ladder” by continuing to expand green ODA to support climate vulnerable countries.

“This year, Korea is implementing the additional $300 million in Green Climate Fund (GCF) support that I pledged at the G20 Summit in New Delhi last year,” Yoon said.

“We also announced a new contribution of $7 million to the Loss and Damage Response Fund, which was pledged at the Korea-Africa Summit this year.”

President Yoon also revealed that the government plans to lead efforts to mobilize private sector capabilities and resources for sustainable development, saying, “We will promote private green investment by reducing the risks associated with renewable energy investments, and strive to accelerate clean energy development through the introduction of market mechanisms such as the establishment of a clean hydrogen power tender market.”

He also emphasized the need for parallel efforts to reduce plastic pollution for sustainable development, and said, “My government will support the successful conclusion of the ‘Fifth Intergovernmental Negotiations for the Drafting of an International Plastics Convention,’ which will begin on November 25 in Busan.”

Yoon also emphasized the need to achieve “digital carbon neutrality” given the increased energy consumption that accompanies digital advanced technologies, and called on the G20 to join the effort.

President Yoon also introduced the theme of the 2025 APEC Leaders' Meeting (“A Sustainable Tomorrow We Create”), which will be held in Gyeongju next year, and affirmed our commitment to continue to play a responsible role.