EU and South Korea launch Green Partnership
The European Union (EU) and South Korea have established a Green Partnership to strengthen bilateral cooperation and exchange best practices on climate action, clean and fair energy transition, protection of the environment and other fields of the green transition.
The partnership was launched in Korea’s Seoul during the EU-Korea summit with both parties reaffirming their commitment to keep global temperature rise below 1.5°C and reach climate neutrality by 2050 at the latest. Additionally, both sides reiterated their commitment to their respective 2030 targets for greenhouse gas emission reductions.
According to the European Commission (EC), the partnership will focus on several priority areas:
- strengthening efforts on combating climate change, including cooperation on climate adaptation, carbon pricing, methane emissions and climate finance;
- increasing cooperation on environmental issues;
- supporting a clean and fair energy transition by intensifying cooperation on renewable energies, energy efficiency, renewable and low-carbon hydrogen;
- working with third countries to facilitate their green transition;
- joining forces in other areas such as business cooperation, sustainable finance, research & innovation, sustainable food systems, sustainability and resilience of supply chains as well as employment and the social dimension of the green transition;
In addition, the EC said the two parties agreed to promote climate action on the international stage, in multilateral and plurilateral fora, notably as major donors of climate finance and as facilitators of a just transition in third countries.
European Commission President Ursula von der Leyen said: “The EU and the Republic of Korea share the ambition of a climate-neutral future. The launch of our Green Partnership will help us towards that goal. We will now work on the convergence in key areas, and deepen cooperation on strategic, clean energy projects. Because it is good for our supply chains, good for our competitiveness and good for the planet.”
Frans Timmermans, Executive Vice-President for the European Green Deal, commented: “Korea and the EU are on opposite sides of the planet, but we both see clearly the threat of the climate crisis, biodiversity loss and pollution that our planet is facing. Through this Green Partnership, we will work together to accelerate the transition to climate neutrality. I am glad that as close partners we will join forces to make sure the green transition is fair for all our citizens.”
To note, Green Partnerships are set up as bilateral frameworks to enhance dialogue and cooperation with key EU partners. It is a comprehensive form of bilateral engagement established under the European Green Deal. The first Green Partnership was established with Morocco in October 2022.
This year, the EU also formed a partnership with Norway. The two parties formed a Green Alliance to strengthen their cooperation on clean energy and industrial transition as well as joint climate action and environmental protection efforts.