Signal Korea's carbon neutrality legal framework is in place but climate impact assessment remains under-developed

Summary

Korea has built a policy framework for carbon neutrality over recent years. The Carbon Neutrality Framework Act was enacted in 2021. In 2023 the government adopted a national strategy for carbon neutrality and green growth together with the first basic plan. A climate change impact assessment system launched in 2022 introduced an implementation platform covering mitigation, adaptation and follow-up management. The report observes, however, that the assessment methodology and the follow-up management system remain incomplete. It therefore proposes upgrading the assessment into a quantitative evaluation and feedback system.