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Korea’s Green Growth Policy in the Asia-Pacific

June 23, 2011Washington, D.C.

Suh-Yong ChungProfessor, Korea University

Member, Presidential Committee on Green Growth

This presentation doesn’t represent the official position of the government.

Green Growth is

not only about environmental protection,

but also about forming a new global/regional governance by creating new green markets

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What’s Green Growth?

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Korea’s Green Growth Policy

• A way of addressing climate change by achieving growth– Need for new engines of growth– Expansion of foreign market potentials

• A possibility of playing a bridging role between developed and developing countries– Contribution to the negotiations on developing

a new global architecture

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Why Asia?

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Why Asia?

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Different Sub-regional Focuses

• Southeast Asia ADAPTATION– High climate risks– Low understanding on the climate risks– Low interests by the high level policy makers

• Northeast Asia MITIGATION– High GHG emitting countries– Political pressures on taking more responsibility– Engine of growth of the world

• Australia, New Zealand7Suh-Yong Chung

East Asia Climate Partnership

• 200 million ODA package• Focuses on assisting developing countries

in Asia • Emphasis more on adaption

– But, also tries to help them on fining new engines of growth

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Cooperation with major GHG emitters in the Asia-Pacific

• Global Green Growth Institute– Japan, Australia, India, Indonesia

• Still government focused• Reluctance of China

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Cooperation with Intergovernmental Organizations

• Asia Development Bank• UN ESCAP• OECD• UNEP• World Bank ?

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Challenges Ahead • Need to develop a better strategic guidelines

toward its role in the Asia-Pacific– General policy guideline on the region– Sub-regional policy guidelines to reflect distinctive

features of sub-regions• Need to develop closer cooperation with

financial institutions such as ADB and the World Bank

• Develop policies based on the Public-Private Partnership

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Opportunities for bilateral cooperation between Korea and the US

• Developing climate change/green growth alliance

• Strategic bilateral dialogue between the governments – market oriented– political considerations on forming regional order

• Developing pan Asia-Pacific Climate Change/ Green Growth Policy Framework– G20, APEC, APP, a new framework?

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Thank you!

mahlerchung@yahoo.com