The Ministry of Environment (Minister, Cho Myung-rae) said that the 25th United Nations Framework Convention on Climate Change (COP25) will be held in Madrid, Spain from Dec.2 to 13. 2019. 

197 Parties will attend this meeting, and in Korea, Cho Myung-rae (Minister of Environment), the head of the delegation, and the delegation consisting of relevant officials* and experts will participate in the COP25.

* The Office for Government Policy Coordination, Ministry of Strategy and Finance, Ministry of Science and Technology Information and Communication, Ministry of Foreign Affairs, Ministry of Justice, Ministry of Agriculture, Food and Rural Affairs, Ministry of Trade, Industry and Energy, Ministry of Environment, Ministry of Land, Infrastructure and Transport, Ministry of Maritime Affairs and Fisheries, Forest Service, Meteorological Administration, Rural Development Administration

The COP25* included the International Carbon Market (Article 6 of the Paris Agreement) Operating Guidelines (not resolved COP24) and will discuss a total of 87 agendas including the structure and form of the Paris Agreement Implementation Report and the time frame for implementing the national GHG reduction targets, which will be commonly applied to all Parties.

* The 25th United Nations Framework Convention on Climate Change

(COP25), the 15th Meeting of the Parties to the Kyoto Protocol (CMP15) and the 2nd Meeting of the Parties to the Paris Convention (CMA2) and The 51st session of the Subsidiary Body for Scientific and Technological Advice (SBSTA51, SBI51) will be held in parallel.

After years of negotiations following the adoption of the Paris Agreement (December 2015), the COP24 prepared most of the rules * required for the implementation of the Paris Agreement last year, but the guidelines relating to the international carbon market were not adopted by objection** of some countries. 

* 17 guidelines are needed in 9 sectors including reduction, adaptation, transparency, markets, finance, and technology, and all 16 guidelines in 8 sectors were adopted at the COP24 last year except the guidelines relating to the international carbon market.

** Failed to reach consensus between countries on how to adjust the 'correspondence adjustment' (preventing double counting by subtracting from purchaser's emissions, adding to seller's emissions)' for greenhouse gas reductions in which international transactions occurred

-The Parties are expected to negotiate under the recognition that if the International Carbon Market Guidelines are not agreed at the COP25 , the full implementation* of the Paris Agreement will be disrupted. The main concern of the COP25 is whether it is possible to reach a consensus on the guidelines.

* Under the Paris Agreement, 2020 is the deadline for submitting renewal of the GHG National Reduction Target (NDC) submitted in 2015 and the long-term low-carbon development strategy in 2050. The year 2021 is the first year that many countries including Korea will start implementation of the GHG reduction target, so it is very important.

Our delegation will work with major national and Environmental Integrity Group (EIG)* and actively participate in discussions to get a good agreement to establish an international carbon market that is environmentally sound and can contribute to the achievement of the Nationally Determined Contributions (NDC), and to prepare a transparent climate action reporting system for all countries.

* Environmental Integrity Group: Climate change negotiation group consisting of Korea, Switzerland, Mexico, Monaco, Liechtenstein and Georgia

Minister of Environment, Cho Myung-rae expressed his willingness to implement the Paris Agreement through a keynote speech at the IFEMA Convention Center, Madrid, Spain, December 10-11. The Minister will introduce our efforts to respond to climate change including establishing the 2nd Framework for Response to Climate Change (in 2019) and holding the 'P4G' Summit for Green Growth and Global Goals 2030 (in 2020) while urging timely adoption of international carbon market guidelines.

In addition, the Minister will participate in the Ministerial Dialogue on Adaptation Ambition* held on the same place on December 10, to establish and implement national adaptation measures, and will share action examples for Korea's climate change adaptation including hosting the 'Adaptation Week' event promoted by the United Nations Framework Convention on Climate Change.

* Discuss best practices and ways to increase resources and finance necessary for adaptation to climate change

In addition, Korea will hold an additional event at the general assembly to promote the second 'P4G'* Summit for Green Growth and Global Target 2030 held in Seoul next year. Korea will also attend the Global Commission on Adaptation (GCA)** High Level Forum on December 11 and announce its intention to join the Global Commission on Adaptation and will strengthen cooperation going forward.

* This is a global initiative (launched on Sep. 2017) to accelerate climate change response and achievement of sustainable development goals through the support of government-private cooperative projects. The 2nd P4G Summit will be held in Korea in 2020 (The 1st meeting was held in Denmark in 2018).

** Established by the Dutch government to promote effective adaptation to climate change risks, carry out knowledge, raising awareness and setting agenda related to climate change adaptation

The Minister of Environment, Cho Myung-rae, said, "we are looking forward to entering into an era of full-fledged climate action by preparing the international carbon market operating guidelines at the general assembly to complete the follow-up negotiations of Paris Agreement for the past four years" and "we will constructively contribute to negotiations based on Korea's policy experience, such as the Emissions Trading System."