Korea's Green Growth Strategy [E-Book]: Mitigating Climate Change and Developing New Growth Engines / Randall Jones and Byungseo Yoo
Korea’s greenhouse gas emissions almost doubled between 1990 and 2005, the highest growth rate in the OECD area. Korea recently set a target of reducing emissions by 30% by 2020 relative to a "business as usual" baseline, implying a 4% cut from the 2005 level. Achieving this objective in a...
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Full text |
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Personal Name(s): | Jones, Randall. |
Yoo, Byungseo. | |
Imprint: |
Paris :
OECD Publishing,
2011
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Physical Description: |
32 p. ; 21 x 29.7cm. |
Note: |
englisch |
DOI: |
10.1787/5kmbhk4gh1ns-en |
Series Title: |
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OECD Economics Department Working Papers ;
798 |
Keywords: |
Economics Korea, Republic of |
Korea’s greenhouse gas emissions almost doubled between 1990 and 2005, the highest growth rate in the OECD area. Korea recently set a target of reducing emissions by 30% by 2020 relative to a "business as usual" baseline, implying a 4% cut from the 2005 level. Achieving this objective in a cost-effective manner requires moving from a strategy based on voluntary commitments by firms to market-based instruments. The priority is to establish a comprehensive cap-and-trade scheme, supplemented, if necessary, by carbon taxes in areas not covered by trading. Achieving a significant cut in emissions requires a shift from energy-intensive industries to low-carbon ones. Korea is strongly committed to promoting green growth through its Five-Year Plan, which envisages spending 2% of GDP per year through 2013. One challenge is to ensure that these expenditures are efficiently targeted so as to develop green technologies, while avoiding the risks inherent in industrial policy. |