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「2021 P4G Seoul Summit Energy Session」 2021-06-01
□ The Ministry of Trade, Industry and Energy (Minister Moon Sungwook) organized a thematic session on energy* on the second day of the two-day 「2021 P4G Seoul Summit (5.30~31)」.
* Thematic sessions : energy, water, food/agriculture, cities, circular economy

ㅇ Under the theme ‘A Greener Planet with Innovative Energy Solutions’, representatives from governments, enterprises, and international organizations gathered to discuss innovative energy solutions for carbon neutrality and discuss cooperative measures for a transition to clean energy.

ㅇ In particular, they shared ideas on ➀innovation and transformation of energy companies in the age of carbon neutrality, ➁innovation in policy and infrastructure, ➂international cooperation for clean energy growth in developing countries.

□ Minister Moon Sungwook, in his opening remarks, mentioned that it is a great honor to host the thematic session on energy of the P4G 2021 Seoul Summit, and said that “key countries around the world, including Korea, are joining the pledge to achieve carbon neutrality by 2050”, and “global businesses are also expanding investments in low-carbon projects in a bold move toward a new future.”

ㅇ Moreover, he explained that in order to achieve carbon neutrality, it should be “approached as an opportunity to create new growth engines and jobs, not seen negatively as detrimental to traditional industries,” and said that to this end, Korea announced the ‘Green New Deal’ plan in July last year.

ㅇ He stressed, since energy accounts for more than two-thirds of the world’s greenhouse gas emissions, innovation across the energy sector is essential for carbon neutrality. ㅇ This requires addressing an array of challenges to expand power grid infrastructure, implement sector coupling, and boost investment in commercializing green hydrogen, and at the same time, a low-carbon energy system calls for innovative policy and infrastructure.

ㅇ In addition, advanced and developing economies should find innovative solutions to move toward carbon neutrality. Enabling growth driven by clean energy in developing countries requires interest and support from advanced economies and the international community, including technological cooperation, greater investments, and financial support.

ㅇ He said, “Korea, as a responsible middle-power country, will actively play its role of bridging advanced and developing economies” adding, “let us come together and communicate as one to create a new future in this ambitious journey toward carbon neutrality.”

*Short version

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