- The Korea National Oil Corp. (KNOC) intends to explore undersea locations in the seas around the Korean Peninsula for carbon capture and storage (CCS) facilities.
- This initiative aims to reduce greenhouse gas emissions by 4.8 million tons annually by 2030, an increase from their earlier target of 4 million tons.
- South Korea’s endeavor towards a 40% emission cut by 2030 is part of a grander vision to attain carbon neutrality by 2050, necessitating the creation of facilities capable of storing 1 billion tons of CO2.
Carbon Capture
The Korea National Oil Corp. (KNOC) announced plans to investigate sites for undersea carbon capture and storage (CCS) facilities around the Korean Peninsula.
This effort aligns with the government’s strategy to cut greenhouse gas emissions by 4.8 million tons annually through CCS by 2030, a revised target from the initial goal of 4 million tons.
“The company plans to explore three separate sites for the CCS facilities in three seas surrounding the peninsula,” a KNOC official said.
Climate Commitment
In 2021, Korea made a significant leap in its commitment to reducing greenhouse gas emissions by elevating its target from 26.3% to an ambitious 40% by 2030. This adjustment directly aligns with the government’s broader vision, led by the Moon Jae-in administration, to gradually transition away from traditional energy sources.
The ultimate aim is to achieve carbon neutrality by 2050, a monumental task that necessitates the establishment of facilities capable of storing an immense 1 billion tons of CO2. This strategic move reflects a proactive stance toward combating climate change and underscores Korea’s dedication to addressing global environmental challenges.
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Source: The Korea Times
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