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The brand for RE100 / Korea Occasions file
Practically 40 p.c of South Korean corporations collaborating within the international Renewable Power one hundred pc (RE100) initiative are struggling to supply renewable vitality resulting from excessive prices and restricted procurement choices, a report confirmed Tuesday.
Out of 183 South Korean corporations which have joined the worldwide marketing campaign, 70, or 38.3 p.c, stated that they had problem sourcing sufficient renewable vitality to energy all of their operations with one hundred pc renewable electrical energy in 2024, based on the report from the Federation of Korean Industries (FKI), citing knowledge from the nonprofit Local weather Group and the Carbon Disclosure Venture (CDP).
It marked a pointy enhance from 39 corporations in 2022, representing an 80 p.c rise over the two-year interval. Price burdens and a scarcity of accessible procurement mechanisms have been cited as the primary causes for the issue in sourcing renewable energy.
In contrast with different main economies, South Korea’s 2024 determine was considerably larger than 20 corporations in the USA, 29 in China and 48 in Japan.
Primarily based on the findings, the FKI stated it has really helpful a listing of 20 coverage agenda objects to the federal government to facilitate corporations’ participation within the RE100 initiative, together with measures to supply monetary incentives for corporations that straight buy electrical energy from energy producers.
“It’s needed to enhance techniques and coverage assist to assist Korean corporations preserve worldwide competitiveness whereas easily securing renewable vitality,” an FKI official stated.
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