S.Korea set to cut greenhouse gas emissions by 37% by 2030

South Korea said it will cut its greenhouse gas emissions by 37 percent from its business-as-usual level by 2030.

Following a Cabinet meeting today (Tuesday), the government announced its decision to accept a request from the state Committee on Green Growth that has called for such a greenhouse gas emission target. It added that the country's final, voluntary reduction target will be submitted to the United Nations later today.

The ongoing U.N. effort to establish a new global protocol on climate change, requires member states to declare their own commitments within this year.

Without any measures to reduce greenhouse gas emissions, the country's overall emissions are expected to grow yearly by 1.3 percent on average over the next 15 years to reach 850.6 million tons of carbon dioxide equivalents (Co2-e), according to a government report.