1. With the ratification bill for the Paris Agreement on climate change passed at the plenary meeting of the National Assembly on November 3, the government of the Republic of Korea will deposit its instrument of ratification with the UN Secretary-General later in the day.

° The Paris Agreement, adopted in December 2015 and signed in New York, the US, on April 22, 2016, met the requirements on October 5 for its entry into force and will be formally brought into force on November 4, 30 days thereafter. For the ROK, it will take effect on December 3, 30 days after the deposition of the instrument of ratification.

2. The Paris Agreement is a multilateral treaty that goes beyond the limits of the Kyoto Protocol, under which only developed countries were obligated to reduce their greenhouse gas (GHG) emissions, and laid the groundwork for a new, universal and comprehensive post-2020 climate regime, which calls for the participation of both developed and developing countries in efforts to reduce GHG emissions and adapt.

3. The ROK government, after enacting the Framework Act on Low Carbon Green Growth in 2010, has drawn up and been implementing state policies on climate change. Pursuant to the Act on Allocation and Trading of Greenhouse Gas Emissions Rights enacted in 2013, the country introduced in 2015 a system for trading GHG allowances in efforts to lay legal and institutional groundwork for addressing climate change.

° In a bid to meet its target for GHG emissions reduction by 2030, which it pledged to the international community in June 2015, the ROK will set a relevant roadmap, a basic plan for tackling climate change, and a strategy for long-term low-carbon development until 2050.

4. With the Paris Agreement ratified in the country, the ROK government, as a participant in the new climate regime, will seek to effectively address the climate change issue and take an active part in relevant international efforts.

° The ROK government will build on its achievements as a leader in addressing climate change, including by hosting the Green Climate Fund and the Global Green Growth Institute, to enhance its standing in the field.

5. The government will complete its ratification process before the 22nd session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP22) in Marrakesh, Morocco, from November 7 to 18; and take an active part in follow-up negotiations that will begin in earnest during the COP22.


* unofficial translation