| South Korea to Pump US$103 Bln Into Renewable Energy |
|
2008-08-28 14:54:26 South Korea said on Wednesday it will spend 111.5 trillion won (US$103 billion) through 2030 in developing new renewable energy, in an effort to cut its reliance on fossil fuels and reduce carbon dioxide (CO2) emissions. The plan is part of the government's long-term energy strategy and will come on top of other energy policies and overseas resource development plans. "(South Korea) will lower the portion of fossil energy to 61 percent by 2030 from the current 83 percent, while bumping up the portion of new renewable energy to 11 percent from 2.4 percent," the Ministry of Knowledge Economy said in a statement. Under the plan, capacity for solar, wind, bio and geothermal power generation will be expanded. South Korea also plans to boost its energy self-sufficiency rate to 40 percent by 2030 from the current 4.2 percent. South Korea is the world's 10th-largest energy consumer and the No. 5 crude oil importer. 
Share Link: 
|
Subscribe to blog
The fund in short
Save Earth Fund invests in renewable energy, environmental technology and water management through actively managed funds, ETFs and stocks. The fund is the only of its kind in Sweden. Our aim is to generate a return that clearly exceeds that of the MSCI World index, with a lower than the average risk of environmental funds. No minimum investment. The management fee is 1%. Daily subscriptions/redemptions. Mr Carl Bernadotte, Mr Alexander Jansson and Mr Marcus Grimfors are responsible for managing the fund. Learn more about our managers here. |