The European Union (EU) and the Republic of Korea have established a Green Partnership to strengthen the bilateral ties between these two regions with the aim of climate action, clean and fair energy transition, protection of the environment, and other fields of the green transition. The Green Partnership was launched in Seoul during the EU-Korea summit by Commission President Ursula Von der Leyen and Korean President Yoon Suk Yeol. Both parties have acknowledged this partnership to maintain the global temperature rise below 1.5 degrees Celsius and reach climate neutrality by 2050.
Priority Areas of The Green Deal
According to the European Commission (EU), the Green Deal focuses on several priority areas –
- Strengthening efforts on combatting climate Change – It has emphasized climate cooperation, adaptation, carbon pricing, methane emission, and climate finance.
- Increasing cooperation on environmental issues – It has focused on reversing biodiversity loss, forest degradation, and deforestation, promoting a circular economy, and addressing the fuel life cycles of plastics, besides implementing the ‘Kunming Montreal Global Biodiversity Framework.’
- Supporting a clean and fair energy transition – It has concentrated the cooperation on renewable energies, energy efficiency, low-carbon hydrogen, transition away from coal-fired power generation, batteries and green mobility, and carbon capture and utilization and storage (CCUS).
- Working with third countries to facilitate their green transition – The major focus areas are climate change mitigation, adaptation, resilience, the clean and fair energy transition, and circular economy.
- Joining focuses in other areas – The deal has concentrated on business cooperation, sustainable finance, research & innovation, sustainable food system, sustainability resilience of supply chains, employment, and the social dimension of the green transition.
The EU and the Republic of Korea have jointly committed and escalated to promote climate action on the international stage in multilateral and plurilateral flora. These two parties have also agreed to support developing and emerging countries working against climate policies and threats.
European Commission President Ursula Von der Leyen has declared this partnership will be beneficial to reach the goal of climate neutrality; also, it has strengthened the cooperation between the two regions on strategic, clean energy projects, which enhance our supply chains, business, and collaboration.
Frans Timmermans, Executive Vice-President for the European Green Deal, has mentioned that Korea and the EU are very separate countries, sharing common interests to combat the threats of the climate crisis, biodiversity loss, and pollution we all face. Within this situation, these two geographical entities have come and agreed jointly to accelerate the climate transition and neutrality.
The same year, the EU also formed a Green Alliance with Norway to strengthen their cooperation on clean energy and industrial transition. Lastly, the European Union (EU) and its policies jointly try to combat climate threats and establish environmental protection for all.