Press Release

Board View

Korea to Lead the Green New Deal of the World - Korea-EU Cooperation for the Green Transition

Date:
2020-07-21
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698

▷ Korea established the Green Deal Policy Council with the EU, the 'important partner for the Green New Deal policy'. 

▷ Korea will strengthen cooperation with the EU for the European Green Deal (green industries, financing, and green mobility) and international events (P4G Summit and COP).


The Ministry of Environment (Minister Cho Myung-rae) will hold the first meeting of the Korea-EU Green Deal Policy Council in the afternoon on July 22nd. The meeting between Sejong and Brussels will be held online to discuss ways to enhance cooperation for the Green New Deal and international events.


Director General Ahn Se-chang of the Climate Change and International Cooperation Bureau of the Ministry of Environment will be the chief delegate of Korea, and Director Yvon Slingenberg of DG Climate Action of the European Commission will be the chief delegate of the EU. 


This is a follow-up meeting of the ROK-EU summit held in June, at which President Moon Jae-in called the EU an important partner for the Green New Deal policy.


Also, Environment Minister Cho Myung-rae and Executive Vice-President Frans Timmermans of the European Commission agreed on the necessity of policy exchange for the Green New Deal at the Korea-EU ministerial meeting, which was held during the 11th Petersberg Climate Dialogue in April 2020.


Korea will introduce its recently announced Green New Deal Plan, and describe key investment plans for the green transition of overall economic and social structures. 


The EU will introduce the European Green Deal, announced in December 2019, and the economic recovery plan to respond to the COVID-19 pandemic*, based on the European Green Deal, announced in May.

* The plan suggested three basic directions of economic recovery: ① Green Deal, ② digital, and ③ fairness and inclusiveness.


Korea and the EU will have additional meetings to exchange policies and technologies to develop ways to strengthen cooperation for key projects, including △fostering green industries, △building a foundation for the promotion of the green financing, △expanding the diffusion of green mobility solutions, such as electric and hydrogen vehicles, and △restoring green ecosystems.


In addition, Korea and the EU will discuss ways of cooperation to extend the Green New Deal globally for the simultaneous international response to both COVID-19 induced economic crisis, and climate and environmental crises. Based on the decisions from the meeting, both parties will cooperate during global events, including the 2nd Partnering for Green Growth and the Global Goals 2030 (P4G) Summit to be held in Korea in 2021, and UNFCCC COP26 to be held in late 2021. 


"We believe the policy meeting will be an opportunity to review the effectiveness of Green New Deal policies and strengthen the cooperation between both parties to extend the Green New Deal globally for the response to the climate crisis after COVID-19," stated Director General Ahn Se-chang.