Hi everyone, it's the Business Guy and although I'm not new on Hive, I'm kinda new to this community.
I have some exciting news to share with you about Korea’s endeavors to fight climate change.
It is an issue I think is very important for our future so I would like to examine it a bit and give my own thoughts.
Here’s the thing: Korea’s Financial Services Commission (FSC), which acts as the country’s financial regulator, has recently released a new strategy that will see 420 trillion won worth of policy loans by 2030. Man, that is a lot of money.
But even more interestingly, this funding will be used in cutting down greenhouse gas emissions.
But why is it such a big issue? Well, initially, Korea has committed itself to reducing its greenhouse gas emissions by 37 percent from what would be the case if we just continued with business as usual.
This is quite ambitious but I think it’s really important because climate change is an important problem that concerns us all.
It is not only about avoiding being punished by other countries. It is also about what is right for the planet, after all we have one Earth, don’t we? Hence it is left on our shoulders to do so.
However, the plan goes beyond just giving out loans.
Besides this, FSC has also been in cooperation with banks to set up funds that would be used for financing the building of new kinds of green energy sources.
That is more solar panels; wind turbines and any other clean energy technologies which could help us use less fossil fuel.
Moreover, it’s not a question of creating just clean power.
The scheme has money for developing fresh green technologies too. This entails things like better batteries for electric vehicles, smarter ways to capture carbon dioxide from air or even new methods of recycling trash.
This is so cool, because it’s not just the government doing stuff alone. It involves a partnership of banks, businesses and government. And this is significant because it demonstrates that everyone is serious about this and working together to make a difference.
However, I know some people may be doubtful. I mean 420 trillion won is a huge amount of money that requires much efforts to ensure its proper spending.
But I believe it will be worth it. Investing in clean energy and green technologies does more than help the environment; it also helps the economy.
This creates jobs, instigates innovation and even ends up being cheaper for us in future due to reduced dependence on costly fossil fuels.
So, yeah, I'm really excited about the green revolution in Korea. I think it’s a big step forward and I pray that other countries will emulate her because we do need to have a planet for our children.
Thank you for your time as well as any thoughts or ideas.