SEOUL, April 23 (Reuters) - South Korean President Moon Jae-in announced on Thursday his country would end all new financing for overseas coal projects and would soon set a more ambitious schedule for slashing carbon emissions.
Moon made the promises during a video address to a two-day virtual climate summit convened by U.S. President Joe Biden.
The announcement makes official parts of a "Green New Deal" proposed by Moon's ruling party last year, which set ambitious goals of net-zero emissions by 2050, an end to funding of overseas coal plants and introduction of a carbon tax.
"To become carbon neutral, it is imperative for the world to scale down coal-fired power plants," Moon said, while noting that developing countries that would struggle due to their dependence on coal "should be given due consideration and access to proper support".
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