The global race to develop core green technologies has already begun.
The supply of fossil fuel resources rapidly declines, but global energy demand is forecast to increase approximately by one third over the next 25 years.
Indeed, developing alternative, clean energy sources has become an urgent task for many countries as climate change is one of the greatest challenges the world faces today.
Korea’s “low carbon, green growth” vision, unveiled in 2008, represents its resolve to become a “fast mover” in this endeavor.
The strategy calls for a smooth transition to a greener and more energy-efficient economy making use of a greater share of renewable and clean energy with a lesser dependence on fossil fuels.
Following the oil crisis in the 1970s, several European countries such as Denmark were “early movers” effectively decoupling economic growth and energy consumption. Korea is now rapidly emerging as a green growth power with comprehensive national and international initiatives.
Officials here hope the country’s new vision will achieve harmony between the economy and the environment while tackling climate change and environmental challenges by enhancing resource efficiency and securing innovative new growth engines.
Economy-wide initiatives have been introduced to transform the country’s system of securing resources, its practice of utilizing energy and power generation. Green initiatives are also at work in industries, agriculture, forestry, land use, buildings and transportation.
Bid for 2012 climate talks
Based on its recent efforts and its past achievements, Korea is now bidding to host the 2012 U.N. climate talks, where countries will lay the foundation for a post-Kyoto Protocol regime to address climate change.
Policymakers here say the bid has a significant meaning for Korea, which is positioned to be a unique example for developing and underdeveloped nations in preparing for the era of green growth.
Bold and ambitious goals along with an action-oriented approach are what set Korea apart.
It already announced a plan in 2009 to cut carbon emissions by 30 percent from levels predicted for 2020, becoming the first emerging economy to announce such a reduction goal.
The strategy also sets ambitious targets for the significant enhancement of energy efficiency and the use of renewable energy.
The creation of new growth engines by developing and deploying core green technologies such as new and renewable energies as well as by greening major energy-intensive industries is also an integral part of the plan.
Furthermore, the government is now implementing a $38-billion “Green New Deal” to spur economic recovery and create jobs.
The plan involves nine core projects and 27 subprograms that are expected to create 960,000 new jobs. The government has also committed fiscally _ investing 2 percent of annual gross domestic product (GDP) to implement green growth initiatives.
Moving in concert with the government, businesses have also been investing boldly in such technologies as electric cars, rechargeable batteries and LEDs.
“These projects represent the spirit of ‘Me First.’ As a fast mover on green growth, Korea aims to play a bridging role between developing and developed nations to build a greener future,” said Cha Sang-min, spokesman of the Presidential Committee on Green Growth.
“The No. 1 priority will be put on sharing such visions and ideas with the rest of the world so that all countries can work together under the same goal ― green growth.”
At the G8 Summit in 2008, President Lee Myung-bak expressed Korea’s will to join the global fight against climate change.
He called for the Me-First spirit at the Copenhagen Climate Change Conference in 2009, while announcing the greenhouse gas reduction goal.
Since declaring green growth as a national vision, the country has made remarkable strides.
Korea moved quickly under a comprehensive national plan to transform the nation into an economy powered by top-notch green technologies.
The development of green technologies and the establishment of a green infrastructure across a wide range of industries are creating a virtuous cycle in which both environmental protection and economic growth are pursued together.
Bridging role
After rising from the ashes of the Korean War (1950-53), Korea showed its unstoppable determination for growth and development that culminated in the “Miracle on the Han River.”
Based on the experience, it is now creating a new success story on fighting climate change and energy depletion.
The government launched the East Asia Climate Partnership in 2008 to help developing countries combat climate change.
Last year, it opened the Global Green Growth Institute (GGGI) in Seoul to drive global green growth. By leading the international campaign for green growth, the GGGI looks to bridge developed and developing countries.
Recognizing that developing countries are most affected by the negative impact of climate change and least equipped to address the ensuing challenges, Korea will support the transition of these countries towards a green economy.
To this end, the GGGI is dedicated to supporting the creation and diffusion of a new economic development paradigm.
The GGGI was founded upon the belief that economic growth and environmental sustainability are not merely compatible objectives, but are mutually necessary for the future of mankind.
Based on the principle, the institute aims to support emerging and developing countries in their efforts to create and implement national and local-level strategies, policies and institutional mechanisms for green growth. The overall objectives are to reduce poverty, create job opportunities and achieve social development that are environmentally sustainable and secure in terms of climate and energy issues.
At the recent Global Green Growth Summit held in June in Seoul, Korea announced a plan to set up a Green Technology Center this year. The center would be dedicated to promoting development and exchanges of eco-friendly technologies among countries.
The center will focus on research on the fusion of energy, water and other related environmental technologies and help train personnel and provide technological know-how to developing nations.
