On the 23rd, Kim Sung-hwan, the Minister of Environment, explained key issues in the electricity sector before a public discussion on the 2035 Nationally Determined Contributions (NDC) targets for greenhouse gas reduction. The event was held at the KEPCO Yangjae Art Center in Seocho-gu, Seoul. The government proposed a reduction target to cut greenhouse gas emissions from electricity production by at least 68% to more than 79% compared to 2018 by 2035.
The Ministry of Environment hosted a “2035 NDC Public Discussion for the Electricity Sector” at the KEPCO Art Center in Seocho-gu, Seoul, and unveiled the 2035 NDC plans for the electricity sector.
The NDC represents the target for reduction in greenhouse gas emissions that a country sets for the upcoming decade. Governments are required to submit their 2035 greenhouse gas reduction plans to the UN Framework Convention on Climate Change by the end of this year.
Previously, the Ministry of Environment proposed reduction targets of “48%,” “53%,” “61%,” and “65%” compared to 2018 emission levels.
According to the reduction plans revealed by the government for the electricity sector, emissions need to be cut from 283 million tons in 2018 to at least 92 million tons to a maximum of 61 million tons by 2035.
For example, if the 2035 NDC is set at 48%, the electricity sector emissions should decrease by 68% (191 million tons) to 92 million tons compared to 2018. If the NDC is set at 53%, the reduction rate expands to 71% (200 million tons) to 73% (207 million tons). If the NDC is set at 61-65%, the reduction rate in the electricity sector will increase to 79% (222 million tons) or more, reducing emissions to less than 61 million tons by 2035.
The plan proposes “renewable energy” as a way to increase greenhouse gas emission reductions in the electricity sector.
To match the 2035 NDC 48% reduction plan, the capacity of renewable energy facilities, which stood at 34GW last year, needs to be increased to at least 130GW by 2035. Under the 53% reduction plan, the renewable energy capacity should be 150-159GW, and for the 61·65% reduction plan, it should be expanded to more than 160GW. The government expects the share of renewable energy generation to increase to at least 29% and up to more than 37%.
The share of nuclear power generation is expected to remain in the 30% range regardless of the scenario. If the 2035 NDC is 48%, the nuclear power generation share will be 34%, higher than the 29% for renewable energy. In the 53% reduction plan, the shares of nuclear power and renewable energy are both 32-33%. In the 61·65% reduction plan, the share of renewable energy is 37%, surpassing the 31% share of nuclear power generation.
The government plans to hold five more discussions until October 14 to finalize the 2035 NDC government proposal.