Korea’s Green Growth

At the recent G20 meetings in Seoul, Korea put green on the the business summit agenda. The world wide recession propelled the global economy in a new direction, forcing many countries around the world to follow anew green expansion paradigm.

For sustainable and balanceddevelopment, governments are increasingly aware of the fact that greengrowth is the future of economic development.

In an interviewwith The Korea Times, Young Soo-gil, chairman of the PresidentialCommittee on Green Growth said, “The agenda for the summit will becrowded with other issues of pressing priorities to allow muchdiscussion on green growth. The Korean G20 Summit Preparatory Committeeis aiming for mainstream advancement on the agenda for the summit, andso ‘development’ will be a prominent theme.”

“This will hopefully allow President Lee Myung-bak to bring the attention of the G20 Leaders to the value of the theme of green growth as a catalyst for globalcooperation in many development dimensions,” he added.

Young said that Korea is seeking to take a lead in the global green growth drive by sharing its knowledge and experience.

“Korea would like to help those developing countries harmonize their growthaspirations with the environmental ones by sharing its green growth tool kits and experiences, as well as by working together to undertakespecific mitigation and adaptation projects in cost-effective andgrowth-friendly ways in individual countries,” he said.

“Korea is also willing to take leadership in the international efforts to helpbuild physical infrastructures in the developing countries inclimate-change resilient ways. For these purposes, Korea is to makegreen growth partnership a leading component of its increased ODA(Official Development Assistance) commitment as a new member of the OECD Development Assistance Committee (DAC),” he added.

As part ofthis effort, Korea has launched the East Asia Climate Partnership(EACP). Most significantly, on July 16 of this year, the Koreangovernment launched a Global Green Growth Institute (GGGI) based inSeoul.

“Korea hopes to develop GGGI into an internationaltreaty-based institution by 2012 with support from other countries which share belief in the value of green growth as well as of sharinginsights, know-how and experiences on it,” he said.

“The GreenGrowth Committee also hopes that Korea’s green growth inspirations willplay a facilitating role in making a breakthrough over the issue of howto reconcile economic, social and environmental development objectivesat the Rio plus 20 Conference on Sustainable Development to be held in2012,” he added.

Richard Matthews is a consultant, eco-entrepreneur, sustainable investor and writer. He is the owner of THE GREEN MARKET, one of the Web’s most comprehensive resources on the business of the environment. He is also the author of numerous articles on sustainable positioning, green investing, enviro-politics and eco-economics.



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