Invest KOREA

KOTRA published 'Cases of Overseas Companies' Response and Opportunities under the New Climate Regime' on July 24
Analysis on response of 61 global companies...include true-to-life information from local survey

KOTRA (President & CEO Yu Jeoung-yeol) published a report titled 'Cases of Overseas Companies' Response and Opportunities under the New Climate Regime' on July 24. This report was initiated to identify carbon neutrality trends of major countries and the response of overseas companies since the Paris Climate Agreement and discover opportunities for Korean companies.

Since the Paris Climate Agreement, the transition to a new climate regime has been taking place in earnest, with the governments around the world as well as companies taking voluntary and active response measures. As part of efforts for carbon-neutrality goal, the number of companies participating RE100* has been on the rise (361, as of 2022), which will have direct and indirect impact on Korean companies' overseas expansion.
*Global Campaign to supply 100% of electricity used by companies from renewable energy.

The report contains △ Current status of laws and systems related with carbon in major countries △ Cases of global companies' reaction to carbon neutrality and RE100 △Current status of Korean companies' response and opportunities. In particular, the implementation of RE100 by 61 global manufacturing companies, surveyed through 21 KOTRA Business Centers in 12 countries is expected to provide guidelines for domestic companies to implement RE 100 and develop strategies.

The report suggest domestic companies actively participate in this trend by declaring carbon neutrality goal and participating in K-RE100, and move in step with changing environment by monitoring and benchmarking the policies of major countries and of actions of global companies.
* A system introduced by adjusting the existing RE100 campaign to suit domestic circumstances, allowing industrial and general electricity consumers to purchase and use electricity generated from renewable energy. (currently, 122 companies are members)

Executive Vice President for Innovative Growth said, "It is important to identify trends of global companies quickly in response to the new climate regime and share them with Korean companies," adding "we will analyze response cases of major countries and companies, and actively support Korean companies to create new opportunities."

'Cases of Overseas Companies' Response and Opportunities under the New Climate Regime' can be downloaded from the website of KOTRA ‘Haedream’ (dream.kotra.or.kr/kotranews.index.do). (dream.kotra.or.kr/kotranews.index.do)

Source: Invest KOREA (July 25, 2022)