1. Green Growth Initiative of Korea June 2010 Seung-Won Lee Assistant Secretary to the President for National Future & Vision

2. Contents IV. Challenges AheadII. Green Growth, Turning Crises into Opportunities Imperative for Change in our Paradigm III. Turning Grand Vision into Real Action I. Imperative for Change

3. Participate in international effort to address CC Energy security vulnerability Economic situation - every country is expected to participate in Post-Kyoto mechanism - imports 97% of energy, more than 80% of energy is fossil fuel - growth rate declining since the Asian economic crisis in late 1990s - depending heavily on energy intensive manufacturing “New path is needed” I. Imperative for Change Crises forces change

4. What do we mean by Green Growth? “as we go green – we generate money & jobs” green energy paradigm Contribution to the global community Improvement in quality of life Green Technology as a new growth engine II. Green Growth, Turning Crises into Opportunities What is Green Growth?

5. Laying foundation for real action - inherits the spirit of the “Economic Development Plan” in the 60~80s - Green budget : 2% of GDP Strategy Plan -Establishes ‘Presidential committee on Green Growth’ Control Tower - Enacts ‘Framework Act on Green Growth’ (Jan. ’10) Legal Framework National midterm GHG reduction target (Nov. ’09) : 30% from BAU by ’20 II. Green Growth, Turning Crises into Opportunities What have we done until now ?

6. Time Span - ’09 ~’50 long-term national strategy for green growth - ’09~’13 Mid-Term five-year plan II. Green Growth, Turning Crises into Opportunities National Strategy & Five Year Implementation Plan Key Framework A Model Green Nation - through creating virtuous harmony of environment & economy Vision Objectives 10 Key Agenda Increasing Energy Security & Climate Adaptation New Engine for Growth Enhanced Quality of Life & Int’l Leadership Build Low Carbon Society Enhance Energy Security Strengthening Climate Actions Develop Green Tech. Foster Green Industry Greenovate Industrial structure Lay Foundation for Green Economy Green Transportation & Land Management Green Life Revolution Global Green Leader

7. National GHG info Management System ‘Integrative GHG management center’ will support the goal-setting process for each sector, while the sectoral statistics are produced by each relevant ministry Emissions Target Management Scheme mandatory reporting of GHG emission for (large) entities. set targets for each (large) entity that emits greenhouse gases. Emissions Trading System & Eco-friendly Tax system enacts another act on emissions trading system this year consider tax reform into eco-friendly system including carbon tax III. Turning Grand Vision into Real Actions Introducing regulations required

8. Developing Green Technology Select 27 green technologies, and make strategies for R&D and commercializing Increases government spending on green tech * ‘08($1.3bil) → ’12(more than 2 times as large as ‘08) Implementing Green ICT Strategy Green of ICT : CO2 reduction in ICT sector (products and services) - develop green PC·TV·Server and green IDC, Green by ICT : CO2 reduction in other sectors by using ICT - Smart Grid, teleconference, smart work center, U health, e-education, BEMS Green Industries certification for green technology, green project, accreditation of specialized green enterprises. develop countermeasures to support green enterprises ( gov’t purchase, R&D, marketing, etc) Boosting of finance for green SME’s and green projects III. Turning Grand Vision into Real Actions Market driven Green Growth

9. East Asia Climate Partnership Launched in July 2008 to support and cooperate with East Asian countries in their effort to improve climate change adaptation capacity and reduce GHG emissions - one of a Korea’s channel of official development assistance (ODA) Commit to provide a total of USD 200 million for five years (’08~’12) Five priority areas : water resources management, waste management, new & renewable energy, green cities, forestation and biomass - implement climate change programs such as financial support, technical assistance and pilot projects - cooperate in partnerships with international organizations in UN and World Bank Project example : Water management Landmark Project - demand for water resources and the need for securing clean water increase - they need a project that can provide the total solution for water management - it includes a resource management system, filtration plants, water supply facilities, sewage reuse, water ecosystem restoration and water quality monitoring systems. (’08) 17 key projects with 7 countries & 4 int’l organization, (’09) 18 new projects III. Turning Grand Vision into Real Actions International Cooperation

10. Global Green Growth Institute (GGGI) President Lee announced the plan to establish GGGI at the UNFCCC in Copenhagen, which will be launched in June this year. Board of directors is comprised of six directors chaired by Dr. Seung-soo Han, former prime minister of Korea. - Sir Nicholas Stern, professor of LSE, and Thomas Heller, professor of Stanford University participate as vice chairman. An independent institution designed to support countries in their effort to achieve strong economic development while addressing climate change. Carry out following activities to support developing countries - build practical policy and decision-making capacity for low-carbon strategy - provide peer-to-peer learning across developing and developed countries. - build broad networks and work with universities, international organizations, etc across the world. Start with Korean government funded. Korea’s vision is to engage other countries as funders and to develop GGGI into a leading global think tank in the field of climate change and economics. III. Turning Grand Vision into Real Actions International Cooperation

11. Global Green Growth “If you want to go fast – go alone, if you want to go far – go together.”