FREE and Seoul Metropolitan Government have signed an MOU to build an equitable and sustainable Seoul energy policy.
What this means:
Modern cities are home to 50% of humanity but account for 80% of commercial energy use and greenhouse gases released by human activity. Cities are also hosts of many of the boldest initiatives to address this era’s greatest environmental challenge – climate change. From ‘solar cities’ to ‘net-zero’ energy communities, city efforts are underway to change the relationship between urban development and the ecosystems on which all life depends. A ‘City 2.0’ movement is emerging in which urban leaders recognize the unsustainability of the current metropolitan habitat and, increasingly, incubate policy and social innovation to build sustainable and equitable futures for urban and, indeed, all human life.
The City of Seoul with its population of more than 10 million inhabitants is an example of such leadership. Its Mayor, the Honorable Park Won-soon, launched a citizens’ campaign in April 2012 to reduce city greenhouse emissions by 25% by 2020 and by 40% by 2030. Early results are impressive, with the city having cut its emissions by 11.9% in just two years, winning global recognition for its accomplishments (including designation as the 2015 Earth Hour Capital by the World Wide Fund for Nature (WWF); and the election of Mayor Park as President of ICLEI).
FREE is honored to have the opportunity to work with the Seoul Metropolitan Government under an MOU signed on June 16, 2015. The agreement pledges both parties to cooperate in the design and implementation of climate-sensitive, sustainable and equitable energy policies for Seoul. The foundation is eager to share its knowledge and experience in large-scale investment in energy conservation, energy efficiency and renewable energy options with this leading City and its sustainability-minded citizens.
View the MOU:
In English
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It is great to share ideas and adopt SEU approach to Korea. PVs itself may be not economically feasible in some cities which do not have robust incentive mechanisms like FIT and RPS. However, energy efficiency might give supplement source for bankable projects with PVs. This combination will be helpful to all participants in SEU projects. Seoul government launches citizen funds for PVs recently. Seoulites can purchase securitised equity of PVs projects in a securities company easily. I think the cashflow from PVs project is fragile in Seoul and additional cashflow is needed to attract more Seoulites. I hope FREE approach could be very much helpful.