Invest KOREA

KOTRA published "Global Companies' Response to Carbon Neutrality and Opportunities"

Analyzed 61 global companies' cases through overseas offices' research 

KOTRA (President & CEO YU Jeoung Yeol) published a report on "Global Companies' Response to Carbon Neutrality and Opportunities" on the 24th, July. The report is designed to identify carbon neutrality trends around the world with global companies' responses after the Paris Agreement and to derive opportunities for companies.

As the transition to a new climate regime takes place in earnest after the Paris Agreement, not only governments but also companies are taking voluntary and active countermeasures. As part of efforts to respond Carbon Neutrality, the number of RE100* members (361 companies as of 2022) is gradually increasing and the situation may affect Korean companies' overseas expansion.

 * Global corporate renewable energy initiative bringing together hundreds of large businesses committed to 100% renewable electricity

The report contains information such as △ Status of carbon-related laws and systems around the world △ Global companies response to Carbon Neutrality and RE100 △ Korean companies' response and opportunities. Especially, the RE100 strategies of 61 global manufacturing companies surveyed through 21 KOTRA overseas offices in 12 countries are expected to provide guidelines for companies to implement RE100 and establish strategies.

KOTRA suggests that Korean companies should actively participate in this trend through declaring carbon neutrality and joining K-RE100*, monitor, and benchmark global policy trends to adapt to the new climate regime.

 * A system that introduces the existing RE100 campaign according to domestic circumstances and allows industrial and general electricity consumers to purchase and use renewable electricity (currently 122 companies joined)

"To response to the new climate regime, it is important to understand global trends quickly." said Jung Oi Young, executive vice president for Innovative Growth Division in KOTRA. "We hope the report can support  companies to create new opportunities preemptively in this new climate regime."

The report can be downloaded from the KOTRA 'Global Market News' website (dream.kotra.or.kr/kotranews.index.do)

Source : Invest KOREA (2022.08.02)