Climate Action 2012-2013

COP18 AND BEYOND
Korea represents a successful example of green
growth strengthening climate response, while
accomplishing economic growth through climate
action. The country, which evolved from one of the
least developed countries to an aid-provider as a
member of the Development Assistance Committee
of the Organization for Economic Co-operation
and Development (OECD), has been eager to show
a new development path through green growth and
to put green growth into practice.
GREEN GROWTH – AN ALTERNATIVE
PARADIGM
Despite a striking pace of development since the
1960s, Korea realised that such rapid advances
would not be sustainable with the existing
economic structure. It is impossible for a country
that imports more than 95 per cent of its energy
to maintain an economy heavily skewed towards
energy-intensive industries such as shipbuilding,
automobiles and steel. In addition, as traditional
impacts of economic development on the
environment grew increasingly conspicuous, it
became urgent to find a new path of economic
growth. Green growth is the answer Korea has
come up with to address these complex challenges.
Green growth is a more highly structured Green
Economy strategy that is designed to be a means
for sustainable development, enabling countries
to promote environmental integrity as well
as economic growth. It is a proactive concept
seeking to make environmental activities a new
growth engine.
The Republic of Korea announced ‘Low Carbon
Green Growth’ as a new paradigm of national
development in 2008, and has focused on the
development of a necessary architecture including
laws and instruments, as well as strengthening
relevant education. Further, the country
established a presidential green growth committee
to take charge of establishing relevant institutions
and introduced a five-year development plan
and the Framework Act on Low Carbon, Green
Growth. This year, its National Assembly passed
a emissions trading bill. The Korean government
has also decided to invest 2 per cent of its GDP
every year in green growth so as to ensure its
political will produces an actual outcome.
MITIGATION AND ADAPTATION
These structural efforts have generated a number
of achievements in mitigation and adaptation.
Improved water infrastructure allows the country
to manage its water resources better and reduce
damage from drought and floods. Automobiles
running on fossil fuel are being steadily replaced
by electric cars; the high-speed railway network
has been expanded; and bicycles have been
promoted by developing bicycle lanes. These
initiatives have inspired local governments as well
to actively pursue green growth, and some of
them are carrying out partnership programmes
with the United Nations Environment
Programme (UNEP) to evolve their urban areas
into advanced green cities.
“Improved water infrastructure
allows the country to manage
its water resources better.”
Further, Korea is making a significant investment
in green technologies, which is an essential
element for a transition towards Green Economy.
Major beneficiaries are new and renewable energy
installations, and energy saving technologies such
as appliances using light-emitting diodes (LEDs).
Investment in the research and development of
green technologies has shown a steady growth
from 2 trillion won (US$1.8 billion) in 2009, and
is expected to reach 3.5 trillion won (over $3
billion) in 2013. This political drive has also
spilled over into the private sector: around 30
companies have spent 15 trillion won ($13.5
billion) on green industries up to date.
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