July 01, 2015 12:01
The government has decided to cut greenhouse gas emissions by 37 percent by 2030. The plan was submitted to the UN on Tuesday, and will become binding if it is adopted at the annual climate change conference in Paris in December.
The Park Geun-hye administration's earlier proposal, laid out last month, was to reduce emissions by 14 to 31 percent.
The new target will lead to bigger electricity price hikes and possible construction of more nuclear power plants.
Greenhouse gases including carbon dioxide, methane, ozone, and fluorocarbons contribute to global warming by absorbing solar radiation.
The government plans to reduce emissions by 25.7 percent, while the additional 11.3 percent reduction will be achieved through carbon trading -- i.e. buying the right to emit greenhouse gases -- or by helping developing nations reduce their emissions.
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