Government, businesses and experts attending the 2021 P4G Seoul Summit called for overall innovation in the global energy system to meet the target of going carbon neutral.

On the second day of the summit on Monday, Energy Minister Moon Sung-wook called for efforts to create new growth momentum and jobs in carbon neutrality, rather than reducing existing industries.

The minister introduced Seoul's Green New Deal initiative, before highlighting the need to innovate the entire energy system while expanding electrical grids and investment into the commercialization of green hydrogen.

International Energy Agency Executive Director Fatih Birol said the most pressing task would be to apply cutting-edge technologies, such as new generation batteries and carbon capture and storage, in the global energy system.