Reactive to the Korean Presidential Election and Pledging Climate Action
For immediate release
Reacting to the news that Lee Jae-myung is projected to win the Korean Presidential election on a manifesto pledging climate action,
Adam McGibbon, Public Finance Strategist at Oil Change International, said:
“Lee Jae-myung can turn the page on the previous government’s “blocker” role on international climate issues. While the previous government spent USD $10 billion a year in Korean taxpayer finance backing fossil fuel projects all over the world, and blocked a global agreement to end this finance, he can start a new chapter.
“For true energy security and affordability, the President-elect should join the group of major nations ending international finance for fossil fuel projects, cancel the controversial fossil fuel projects under consideration left over from the last government, and shift this public finance to renewable energy instead.”