ID :
208947
Fri, 09/23/2011 - 04:23
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https://oananews.org//node/208947
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Green growth fund
(EDITORIAL from Korea Times on Sept. 23)
Green growth fund
The Korea Green Growth Partnership Trust Fund is part of the nation???s efforts to help developing countries achieve sustainable growth based on environment-friendly technologies. Seoul will soon launch the fund in cooperation with the World Bank.
The creation of the fund is a key element of the memorandum of understanding (MOU) signed between Strategy and Finance Minister Bahk Jae-wan and World Bank President Robert Zoellick on Thursday. The MOU has significant implications as the global development bank has selected Korea as its first partner in promoting green growth.
It also indicated that the World Bank has recognized Korea???s low carbon, green growth strategy. Green growth has become a catchphrase of the President Lee Myung-bak administration.
It is true that any country, developed or developing, cannot realize sustainable growth without going green. That???s why the world has been struggling to combat climate change by reducing greenhouse gas emissions. However, it has yet to set up a new framework on how to cut the emissions.
Against this backdrop, the fund will play a role of publicizing the importance of green technology and narrowing the gap between advanced economies and developing countries. Korea can set a good example of international cooperation for sustainable development.
Korea plans to give a total of $40 million to the fund between 2012 and 2015. The fund will be used for research and investment in transportation, energy, water resources and urban development in developing countries. The sum is not sufficient. So, we urge the Korean government and the World Bank to work together to raise more money.
It is also necessary for other countries, especially advanced economies, to join the program for poor states. By sharing know-how and financial means, both developed and developing nations can work together to bring a better future to the world.
The United States and several euro zone nations are now grappling with a debt crisis. Skeptics may argue that green growth is a luxury for those teetering on the brink of a debt default. But no country can delay investment in research and development for green growth any more.
Korea is the world???s 10th-largest emitter of greenhouse gases. Thus, it cannot neglect its obligations of curtailing emissions. It must make concerted efforts to replace fossil fuels with solar and wind power, make electric cars, and develop clean technologies. Most of all, the nation should transform its economic structure and change people???s way of life to speed up a green growth revolution.
(END)
Green growth fund
The Korea Green Growth Partnership Trust Fund is part of the nation???s efforts to help developing countries achieve sustainable growth based on environment-friendly technologies. Seoul will soon launch the fund in cooperation with the World Bank.
The creation of the fund is a key element of the memorandum of understanding (MOU) signed between Strategy and Finance Minister Bahk Jae-wan and World Bank President Robert Zoellick on Thursday. The MOU has significant implications as the global development bank has selected Korea as its first partner in promoting green growth.
It also indicated that the World Bank has recognized Korea???s low carbon, green growth strategy. Green growth has become a catchphrase of the President Lee Myung-bak administration.
It is true that any country, developed or developing, cannot realize sustainable growth without going green. That???s why the world has been struggling to combat climate change by reducing greenhouse gas emissions. However, it has yet to set up a new framework on how to cut the emissions.
Against this backdrop, the fund will play a role of publicizing the importance of green technology and narrowing the gap between advanced economies and developing countries. Korea can set a good example of international cooperation for sustainable development.
Korea plans to give a total of $40 million to the fund between 2012 and 2015. The fund will be used for research and investment in transportation, energy, water resources and urban development in developing countries. The sum is not sufficient. So, we urge the Korean government and the World Bank to work together to raise more money.
It is also necessary for other countries, especially advanced economies, to join the program for poor states. By sharing know-how and financial means, both developed and developing nations can work together to bring a better future to the world.
The United States and several euro zone nations are now grappling with a debt crisis. Skeptics may argue that green growth is a luxury for those teetering on the brink of a debt default. But no country can delay investment in research and development for green growth any more.
Korea is the world???s 10th-largest emitter of greenhouse gases. Thus, it cannot neglect its obligations of curtailing emissions. It must make concerted efforts to replace fossil fuels with solar and wind power, make electric cars, and develop clean technologies. Most of all, the nation should transform its economic structure and change people???s way of life to speed up a green growth revolution.
(END)
