The Carbon Free Alliance (CF Alliance), proposed by President Yoon Suk-yeol during the UN General Assembly last month, has been officially launched in South Korea on Oct. 12. Major domestic corporations, including Samsung, Hyundai, SK, LG, POSCO, and Hanwha, have joined the CF Alliance.
The Ministry of Trade, Industry, and Energy (MOTIE) announced on Oct. 12 that it held the inaugural assembly for the CF Alliance at the Korea Chamber of Commerce and Industry (KCCI) building in downtown Seoul in the afternoon. The assembly is a follow-up action following President Yoon’s proposal for the establishment of the CF Alliance during his keynote address at the UN General Assembly.
The CF Alliance is an expansion of the Carbon-Free Energy Forum, which was launched in May. It has transformed the previously discussion-based forum into an official organization with the intention of securing a stable operational foundation and improved execution capabilities for the future.
The CF Alliance plans to complete the administrative procedures for establishing its legal entity by the end of October. After holding an inaugural ceremony, the organization will focus on launching full-scale activities, including building cooperative relations with domestic and international businesses and international organizations, identifying areas for institutional improvements and standardization, and addressing climate disparities between nations.
Fourteen companies and institutions, including Samsung Electronics, SK hynix, POSCO, LG Chem, Hanwha Solutions, Doosan Enerbility, GS Energy, LS Electric, Korea Zinc, Korea Electric Power Corporation (KEPCO), and Korea Energy Agency, participated as founding members in the inaugural assembly on Oct. 12. During the assembly, they elected executives, deliberated and approved the articles of association, business plans, and budget. Lee Hoe-sung, former chairman of the Intergovernmental Panel on Climate Change (IPCC), was elected as the chairman.
The IPCC is the most authoritative international organization in the field of climate change, co-founded by the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP) in 1988. The former chairman Lee served as IPCC’s vice chairman for 7 years and then as chairman for 8 years, concluding his term at the end of July this year.
Chairman Lee Hoe-sung emphasized during his inaugural address, stating, “The CF Alliance will contribute to making South Korea a leader in the 21st-century carbon-free economy. We will strive for South Korea to become a benchmark that other countries emulate.” First Vice Minister Jang Young-jin from the MOTIE expressed governmentwide support, saying, “The MOTIE as well as the government will spare no effort in actively supporting the CF Alliance to take a leading role in international discussions and gain global recognition.”
Executive Vice Chairman Woo Tae-hee of the KCCI stated, “Zero-carbon energy has significance in that it encompasses the RE100 concept, expanding the options for carbon reduction for companies. I will actively support the activities of the CF Alliance.”
Meanwhile, carbon-free energy is a concept aimed at addressing the shortcomings of the current corporate participation in Renewable Energy (RE100) in order to achieve a carbon-neutral society. RE100 is a campaign proposed by the U.K. nonprofit organization The Climate Group that aims to have 100 percent of electricity sourced from renewable energy such as solar, wind, hydro, and geothermal power by 2050.
In South Korea, major companies such as Samsung, Hyundai, SK, and Naver have expressed their intention to participate in RE100. However, they are facing practical difficulties in doing so. RE100 restricts the means of compliance to solar, wind, and other forms of renewable energy, which is challenging to achieve given the local conditions in South Korea. There’s criticism that RE100 does not adequately consider varying environmental conditions on a national and regional basis, making it function as an invisible trade barrier.
Zero-carbon energy recognizes not only renewable energy but also hydrogen and nuclear power as carbon-neutral energy sources. The UN’s energy cooperation organization, UN Energy, and Google-led 24/7 CFE Initiative acknowledge nuclear power and hydrogen as energy sources with no direct carbon emissions.