Business Chief APAC+ANZ Magazine December 2021 | Page 70

South Korea
Japan
TOP 10

04

South Korea

1.8 % Global Consumption
Global Position 8
South Korea ’ s ministry of environment announced a complete phase out of coal-fired power stations in the country by 2050 . In order to meet 2030 targets , the country will also have to cut its reliance on coal in half , to less than 21.8 % ( down from 41.9 % in 2018 ). In order to achieve this , renewables will increase significantly – from 6.2 % to 30.2 %. Like Japan , South Korea is relying heavily on carbon capture to meet these ambitious targets .

“renewables will increase significantly – from 6.2 % to 30.2 %”

03

Japan

2.5 % Global Consumption
Global Position 6
Fund new coal power plants and will phase out old plants in an attempt to cut greenhouse gas emissions by 46 % by 2030 . Japan is relying on new technology , in the forms of hydrogen and carbon capture and storage to meet its goals . Nuclear power production has taken a hit in Japan since Fukushima in 2011 but is still part of its future energy mix .
70 December 2021