SFOC feed

Did you know that transitioning from #coal to #RenewableEnergy can boost #job creation & create #economic benefits?   New report by Solutions for Our Climate (기후솔루션) and Green Energy Strategy Institute (GESI) examining the representative case of one of the nation’s major #coal power plant regions, Chungcheongnam-do (Chungnam) provides insights into the socio-economic ramifications of the #EnergyTransition, finding:   🔹 At the national level, all renewable energy scenarios were found to create more jobs than gas-fired power generation.   🔹 At the regional level, all but one renewable energy scenarios create more jobs than the LNG scenario. The remaining RE1 scenario surpasses LNG when combined with ESS flexibility options (ESS) or mandates to use locally produced manufacturing goods and services (LCR), underscoring their importance in further boosting the positive impact of the green transition.   🔹 If Chungnam ambitiously transitions to renewable energy at a level that achieves its market potential, it could create up to 1.08 million Full-Time Equivalent (FTE) jobs by 2050 based on cumulative values.   🔹 The contribution of renewable energy to the value-added creation in the region is expected to reach up to 52% of Chungnam’s 2022 gross regional domestic product (GRDP).   Read more: https://lnkd.in/gj5zTJ6h   Download a copy of the report: https://lnkd.in/g5K5EWrv   #FossilFuelPhaseOut #JustTransition #SouthKorea #CoalPhaseOut

Today, the South Korean National Pension Service (NPS), world's third largest pension fund, announced its detailed policy on phasing out coal. The announcement comes after a three year delay. Key points include: 📍For companies with a three-year average coal revenue share of

📝How are insurance companies driving #fossilfuel expansion and harming local communities? As climate impacts are rising, insurers are turning to protect shareholder profits by reducing their coverage for at-risk communities while enabling fossil fuel expansion. Insure Our Future Global's new report reveals that over a third of total weather-related insured losses have been attributed to climate change from 2002 to 2022, totaling $600 billion. The report shared a ranking of world's 30 major re/insurers regarding their performance on fossil fuel policies. South Korea's Samsung Fire & Marine Insurance ranked 19th (awaiting confirmation) in underwriting and 18th in investment of fossil fuel restrictions. While it was the first Asian insurer to adopt modest coal restrictions, it still has to phase out support for coal companies unaligned with a credible 1.5ºC pathway. Read more in the report: https://lnkd.in/gMNAuu7g Campax Civic Exchange 思匯政策研究所 Coal Action Network Connecticut Citizen Action Group Ekō Greenpeace Instituto Internacional de Derecho y Medio Ambiente (IIDMA) Investors for Paris Compliance JACSES 한국사회책임투자포럼(KoSIF) Mothers Rise Up Public Citizen Rainforest Action Network Reclaim Finance - ONG ReCommon Re-set: platforma pro sociálně ekologickou transformaci The Sunrise Project Inc. Urgewald Waterkeeper Alliance