Seoul [South Korea], October 18 (ANI/Sputnik): South Korea has decided to increase its target reduction level of greenhouse gas emissions to 40% by the end of the decade, President Moon Jae-in said on Monday.

"We have significantly raised the main bar from 26.3% to 40% by 2030 compared to 2018 levels. This is an ambitious goal to reduce [greenhouse gases], and the maximum that we can do in our conditions," Moon said at a carbon neutrality committee meeting in Seoul.

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He reasserted South Korea's determination to reach net zero emissions by 2050, as stipulated in the national economic strategy developed in December 2020. Under the Green New Deal, the government has earmarked $6.7 billion for the investment in green recovery and renewable energy sources.

Last year, greenhouse gas emissions in South Korea amounted to 648.6 million tonnes, a 7.3% decrease compared to 2019. (ANI/Sputnik)

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(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)