South Korea is using coronavirus stimulus to green the economy
By Chaoni Huang, GFLP Alumni, Head of Sustainable Capital Markets, Asia-Pacific at BNP Paribas
Korea’s New Green Deal is part of recently announced stimulus plans to spend around US$110 billion to save the country from recession. And one of the signature policies of President Moon Jae-in’s new government is a radical departure for Asia, though: Korea has become the first country in the region to pledge that it will achieve net zero emissions by 2050. Korea deserves great credit for taking the first step towards ending its dependence on coal and encouraging other Asian countries to take similar action.
Source: Nikkei Asian Review