Asia’s largest economies going clean
Insights — October 2020
Japan and South Korea announced their commitment to net-zero carbon emissions by 2050
Last month we noted the significance of China announcing a net-zero target by 2060. During October, Japan (the world’s third largest economy) and South Korea (the world’s 11th largest) followed suit by announcing their own carbon neutral objectives by 2050. These commitments are also significant because both Japan and South Korea rely heavily on imported coal and natural gas and both are top-10 global emitters.
What excites us most is the considerable industrial and technological capacity within both of these major economies which will be directed to not only a transformation to clean energy but also the technological innovations that are likely to be exported for the rest of the world to benefit from.