Korea s Green Growth Vision and Five-Year Plan Nov 2009 JinBae Hong Director, Presidential Committee on Green Growth Why is Korea striving for Green Growth? Climate change impact - average temperature rise 1.7 (2 times more than world average) Energy security vulnerability - 140 billion USD energy bill New path is needed Economic slow-down - growth rate declining since the Asian economic crisis in late 1990s - growth without rise in employment Last 60 years Economic growth Next 60 years Green growth 2 1
What is Green Growth? What do we mean by Green Growth More than just an environmental policy - Conventional view between growth and environment: trade-off - Green growth: turn trade-off to synergy <Elements of Green Growth> Green growth paradigm Green Technology as a new growth engine Contribution to the global community Improvement in quality of life 3 Features of the Green Growth in Korea Strong Green Leadership -Place this vision at the top of national agenda -Presidential Committee on Green Growth Fast integration of the Vision in all sectors - meaningful partnership with private council (business, financial sector, technology experts etc.) Strong industrial base in relevant areas - IT, large competent players Turning it into real actions 4 2
How to Drive Green Growth Actions Sustained Drive key role for the Presidential Committee on Green Growth Legal Framework Strategy Plan early ratification of the Basic Act on Green Growth -inherits the spirit of the Economic Development Plan in the 60~80s * 5 year implementation plans - new green saemauel movement National midterm GHG reduction target - set this year - Green Budget - 2% of GDP - Green new deal, R&D, SOC 5 National Strategy for Green Growth Background - Approved on July 6 by the Presidential Committee & the Cabinet Meeting - a multi-agency + research institute participating project Key Objective & Agenda Vision A Top 7 Green Nation by 2020, Top 5 by 2050 Objectives Climate Change Adaptation & Energy Security Create New Engine for Growth Enhance Quality of Life & Int l Leadership 10 Key Agenda Efficient GHG mitigation Greater independence from fossil fuel & energy security Building climate resilience R&D for green tech. Greening existing industry & fostering green industry Toward high-tech industries Lay the foundation for green economy Green transportation & land management Green life-style International leadership 6 3
1. Low Carbon Society National mid-term GHG reduction target - establish carbon monitoring and mgt system to enhance carbon visibility Encourage Carbon-3R Activities Inter-Korea Cooperation: reforestation of North Korea Carbon-3R Rates Reduce GHGs 19.8% 17.6% 17% 7 2. Energy Security Energy conservation Expand clean energy: renewable (ex: solar cell, fuel cell), 2.7%/2009 6%/2020 Build safe nuclear energy facilities: 26%/2009 32%/2020 Expand off-shore energy source development Enhance Energy Independence 100% 50% 32% 8 4
3. Strengthen Capacity to Adapt Climate Change Establish climate change monitoring& early warning system Improve climate adaptation & address related health risks Food security: eco-friendly agriculture product 4.5%/2009 18%/2020 Improve water resources management: 4 Major River Restoration Project Secure Water Resources 22.2billion m3 21.4billion m3 18.6billion m3수질개선수자원확보 9 4. Develop Green Tech Development of Green tech innovation Increase Investment in Green R&D: 1.2 billion USD/2008 2.4 billion USD/2013 Key green technologies - advanced LED, CCS, Green Cars, Renewables(high-end solar cell), fuel cell, smart grid, green ICT product Invest in Green tech R&D 30% 25% 16% 10 5
5. Foster Greening Industries Greening conventional industries: steel, ship building, etc - upgrade industrial park for green cluster, - innovate each link of value chain - apply energy efficient technology Double the resource-circulation rate: 10%/2009 22%/2020 Export in Green Products 35% 22% 10% 11 6. Greenovate Industrial Structure High tech convergence industry: green ICT, nano technology High value added service industry: medicare service, content - Build giga byte network infrastructure and strengthen IPR Export in IT convergence industry $349billion $144billion $ 75.5billion Export in contents $50billion $10billion $5.8billion 12 6
7. Build Green Economy Basis Develop Carbon Market: 1.6 billion USD in 2020 - Cap & trade system, emissions related business Promote Green Financial Infrastructure - Green certificate system - Eco-tax Create green jobs: green training and education system, 300 green social companies Domestic Carbon Market 5 trillion won 2 trillion won Getting ready 13 8. Green Land Transportation Green Home & Green Buildings rating system Green city model Green Transportation: promote green cars(hybrid, EV), bicycles, railway Green Model Cities Proportion of railway transportation 10 5 0 30% 26% 18% 14 7
9. Green Life Revolution Promote green consumption & green lifestyle - Introduce Eco-point system & expand Carbon labeling - Launch green growth campaigns & education for public awareness 9. Green Life Revolution Carbon label certified products 4,000 items 1,000 items 50 items 15 10 Global Green Partnership Bridge between developed countries and developing countries Increase Green ODA & support developing countries - Build East-Asia Climate Partnership : 200 million USD/4 year Green ODA EPI 40% 30% 14% 8 th 20 th 51 st 16 8
Challenges Ahead Continued support from the public - the key to success of Green Growth Support from business community - meeting its needs to adapt & change - setting a price on target : emission trading & carbon tax Green Growth is not plan B, it s the Plan A 17 9