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Decarbonization under Green Growth Strategies? The case of South Korea

Sonnenschein, Jonas LU and Mundaca, Luis LU (2016) In Journal of Cleaner Production 123. p.180-193
Abstract
The win-win opportunities connected to green growth are appealing to academics and policy makers alike, but empirical evaluations about the effectiveness of green growth policies are still scattered. Taking South Korea as case study, which set up a highly ambitious green growth program in 2009, our research casts light on the extent to which the Korean Green Growth Strategy has been effective in decarbonizing the economy. Our methodology combines decomposition analysis and econometrics with a review of energy and climate policies, including related structural changes. On the short term (2008-2012), most of the drivers displayed an enhancing effect on CO2 emissions from fuel combustion, with GDP per capita being the strongest driver. From a... (More)
The win-win opportunities connected to green growth are appealing to academics and policy makers alike, but empirical evaluations about the effectiveness of green growth policies are still scattered. Taking South Korea as case study, which set up a highly ambitious green growth program in 2009, our research casts light on the extent to which the Korean Green Growth Strategy has been effective in decarbonizing the economy. Our methodology combines decomposition analysis and econometrics with a review of energy and climate policies, including related structural changes. On the short term (2008-2012), most of the drivers displayed an enhancing effect on CO2 emissions from fuel combustion, with GDP per capita being the strongest driver. From a historical perspective (1971-2012), findings reveal that important drivers, such as energy and CO2 intensity even worsened their effects during the first years under the Green Growth Strategy. Regression statistics revealed that GDP per capita was in fact the driver with the most explanatory power for CO2 emissions, followed by energy intensity. The Korean policy mix of modest government support to low-carbon energy technologies and a lack of complementary pricing policies did not deliver the targeted emissions reduction, at least in the short-term. Despite recent policy developments, i.e. the introduction of a renewable portfolio standard in 2012 and an emissions trading system in 2015, several key policy challenges for decarbonization remain. (Less)
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author
organization
publishing date
type
Contribution to journal
publication status
published
keywords
climate change, Decomposition analysis, Energy, green growth, Policy evaluation, South Korea
in
Journal of Cleaner Production
volume
123
pages
180 - 193
publisher
Elsevier
external identifiers
  • scopus:84941905816
  • wos:000375501600018
ISSN
0959-6526
DOI
10.1016/j.jclepro.2015.08.060
language
English
LU publication?
yes
id
a2d58bfc-4222-4235-a428-abf7221b5e45
alternative location
http://www.sciencedirect.com/science/article/pii/S0959652615011518
http://www.sciencedirect.com/science/article/pii/S0959652615011518/pdfft?md5=ecc9278c42e0b459ee2bf2781a9b8f32&pid=1-s2.0-S0959652615011518-main.pdf
http://www.sciencedirect.com/science/article/pii/S0959652615011518#
date added to LUP
2016-04-11 09:37:34
date last changed
2017-09-18 11:29:32
@article{a2d58bfc-4222-4235-a428-abf7221b5e45,
  abstract     = {The win-win opportunities connected to green growth are appealing to academics and policy makers alike, but empirical evaluations about the effectiveness of green growth policies are still scattered. Taking South Korea as case study, which set up a highly ambitious green growth program in 2009, our research casts light on the extent to which the Korean Green Growth Strategy has been effective in decarbonizing the economy. Our methodology combines decomposition analysis and econometrics with a review of energy and climate policies, including related structural changes. On the short term (2008-2012), most of the drivers displayed an enhancing effect on CO2 emissions from fuel combustion, with GDP per capita being the strongest driver. From a historical perspective (1971-2012), findings reveal that important drivers, such as energy and CO2 intensity even worsened their effects during the first years under the Green Growth Strategy. Regression statistics revealed that GDP per capita was in fact the driver with the most explanatory power for CO2 emissions, followed by energy intensity. The Korean policy mix of modest government support to low-carbon energy technologies and a lack of complementary pricing policies did not deliver the targeted emissions reduction, at least in the short-term. Despite recent policy developments, i.e. the introduction of a renewable portfolio standard in 2012 and an emissions trading system in 2015, several key policy challenges for decarbonization remain.},
  author       = {Sonnenschein, Jonas and Mundaca, Luis},
  issn         = {0959-6526},
  keyword      = {climate change,Decomposition analysis,Energy,green growth,Policy evaluation,South Korea},
  language     = {eng},
  pages        = {180--193},
  publisher    = {Elsevier},
  series       = {Journal of Cleaner Production},
  title        = {Decarbonization under Green Growth Strategies? The case of South Korea},
  url          = {http://dx.doi.org/10.1016/j.jclepro.2015.08.060},
  volume       = {123},
  year         = {2016},
}