If plant retirement continues at the current pace, carbonemissions could still rise by 247% over the sector budget.
South Korea is urged to lower the emission levels from its coal-firedpower plants to 58% of 2017 levels by 2025 and eventually phase out itscoal-fired power generation by 2029 in order to stay within the ParisAgreement’s targets, according to a report by Climate Analytics.
If retirement of South Korea’s coal plants continues at itscurrent pace, Climate Analytics projected that they would release more thantwice (247%) the amount of carbon emissions allowed under South Korea’sremaining Paris Agreement compatible power sector budget for coal. If theplanned coal units come online, the difference between committed emissions andpathways consistent with the Paris Agreement would increase to 317%.
“Despite the encouraging signs that a transition to a coal-freeelectricity mix may be starting, South Korea has no concrete nationalcommitment, roadmap, or policy instrument to accelerate phasing out coal, andno systematic framework to ease the transition,” said Paola Yanguas Parra,co-author of the report.
To execute such a feat, South Korea will need to retire its operatingpower plants much earlier than the currently proposed age of 30 years and/ordramatically reduce their utilisation rate. Further investment in fossil fuelinfrastructure, including natural gas, also risks leaving stranded assets andlocking the country into a pathway inconsistent with the Paris Agreement, Parraadded.
To make up for the loss of coal in the power mix, renewableenergy generation needs to increase rapidly to reach more than half of powergeneration by 2030. (Source:Asian Power)
