A new approach to measuring green growth: Application to the OECD and Korea

China's Green Growth Strategy and Implications for Trade between Korea and China

(China's Green Growth Strategy and Implications for Trade between Korea and China)

In the world where natural resources are already limited, balancing the environmental aspect with economic growth has become necessary. Otherwise the consequences will be severe. The Green Growth Masterplan of South Sumatra has outline the strategies and action toward achieving sustainability. The masterplan consist of seven strategies aimed at achieving 5 sustainable development goals: (1) sustainable economic growth; (2) inclusive and equitable growth; (3) socio, economic and environmental resilience; (4) healthy and productive ecosystem, and (5) greenhouse gas emission reduction. The masterplan also implied that the only way South Sumatra will be able to achieve the green economic growth is through collaboration and cooperation among all stakeholders in the province. All of the enabling condition in green growth strategy were pointed toward the importance to build a strong partnership with all stakeholders. They need to work together and combine their knowledge and resources to achieve the green growth vision. One of the enabling condition is a strengthened capacity to conduct and implement green growth action. At this point, the issues of knowledge management became important. In order to collaborate effectively in managing the South Sumatra Landscape, a strong basis of knowledge is required. A knowledge society need to be formed in South Sumatra for this purpose. This knowledges need to be manage in such a way that any stakeholders in South Sumatra will be able access, utilize and improve. The SECI (Socialize-Externalize-Combine-Internalize) framework of Nonaka and Takeuchi (1995), fit nicely into the context of South Sumatra green growth implementation. Tacit knowledge from local wisdom of community needs to be combined with explicit knowledge that has been produced by so many research project in South Sumatra. The only problem with SECI framework is in institutionalization of the framework itself. Knowledge sharing on sustainable development needs to be facilitated by a body who can work with multiple stakeholders and at the same time implement the knowledge management system. In South Sumatra, this was addressed through the Green Growth Partnership Institution. KOLEGA SUMSEL is a form knowledge society which strive to achieve green growth vision through cooperation and collaboration. The cooperation models itself is an important contribution from South Sumatra to the development practitioners in other places.

Economic, land use, and ecosystem services impacts of Rwanda's Green Growth Strategy: An application of the IEEM+ESM platform

The idea of “green growth” has received international attention for more than a decade as a promising solution to a distinctly modern problem: a century of unparalleled increases in wealth based on equally unparalleled innovations in energy technology accompanied by global environmental threats such as climate change and persistent socioeconomic inequality. The green growth premise is that this problem can be solved without surrendering continued economic growth by a redirection of human effort to invent green energy technology, green energy markets, and green energy choice. Proponents have argued that green‐energy based economic growth represents a paradigm shift bringing forth sustainable and equitable relations between environment, economy, and society. The paper reviews a decade of green energy growth strategies and practices. The Korean Green Growth Initiative (KGGI) is investigated as a case study of green energy growth operationalization. Korea’s experiment was widely hailed by international bodies such as The Organization for Economic Cooperation and Development (OECD) and United Nations Department of Economic and Social Affairs (UNDESA) for its bold attempt at paradigm shift, with the hope that, if it succeeded, countries currently on the periphery of modern development would be able to overcome conditions of poverty, environmental degradation, and political dependency. But our analysis of the Korean case questions the idea and ideology of green energy growth, demonstrating instead that KGGI was quickly coopted by the paradigm it was supposed to supplant. In this respect, one contradiction in the strategy and practice of green energy growth has been its promise to change the trajectory of modern development without requiring serious changes in modern values and ideology.This article is categorized under: Energy and Climate > Economics and Policy Energy and Development > Climate and Environment Energy and Development > Economics and Policy

Rapid economic development accompanied by resource depletion and environmental degradation is becoming a serious challenge to the sustainable development of countries, including Vietnam. Currently, Vietnam is facing many problems such as environmental pollution, natural disasters, climate change and especially the great impact of the Covid-19 pandemic, which has a profound impact on the economy and society. To achieve sustainable development, green growth, that is, economic growth associated with building a low-carbon society and protecting the environment, is considered the right and long-term choice. Green growth not only helps sustainable economic development but also reduces poverty, especially in developing countries. This is a development model that allows these countries to develop their economies quickly, shortening the gap with developed countries while still ensuring against environmental degradation. Recognizing the importance of green growth, Vietnam has been implementing related strategies and achieving some positive results. The article focuses on analyzing lessons learned about green growth from countries around the world and providing policy implications for Vietnam. Thereby, the article will provide analysis, theoretical basis and current situation in Vietnam, as well as international experience in green growth strategy. Finally, the article proposes recommendations and solutions to create conditions for Vietnam to shorten the development gap with advanced countries, promoting rapid and sustainable economic growth.

Green growth strategies—Korean initiatives

The need to find a suitable alternative to our present carbon-based production pattern is currently the subject of international discussion, not least because economic growth usually goes hand in hand with increased resource consumption. As part of such an alternative, all economic decisions would have to take into account environmental concerns and the value of natural assets. The discussion is mainly focused on different concepts of green growth, now a buzzword. The hope is that we can find a solution to our world's most pressing issues, one that enables us to achieve economic growth while conserving ecosystems, preventing environmental degradation and contributing to the aims of climate stability and poverty reduction.In addition to the important debate on the different ways of achieving this, it is also essential to discuss how we can effectively map the achievement of green growth. A number of international organisations have proposed sets of indicators for measuring green growth, and initiatives such as the Green Growth Knowledge Platform (GGKP) have been set up to pool existing knowledge, identify gaps in knowledge and provide a platform for discussion.In this context, finding a standardised way of measuring green growth is far less trivial than it may appear at first glance, as there are at least two sources of heterogeneity that need to be taken into account: the different concepts of green growth that exist and the specific conditions of each country that require different priorities to be set. Differing income levels mean that countries will have varying degrees of scope for action and will set different policy priorities. Furthermore, there are often fundamental structural differences between economies, with implications for environmental impact and the use of natural resources. There must also be a certain degree of political stability for green growth strategies to be planned and implemented properly. Finally, it is necessary when measuring green growth to (be able to) distinguish between cyclical and structural changes in the economy.This results in several sets of indicators for measuring green growth. However, the goal should not necessarily be to develop one sole set of universally valid indicators. If we are to clearly delimit the concept of green growth to prevent its arbitrary use, then we need firstly to come up with a comprehensive way of defining it and secondly find overarching key indicators for measuring it that reflect central categories. At the same time, the different baseline conditions in developing countries, emerging economies and industrialised nations mean that green growth strategies must be adapted to individual situations. Accordingly, sets of indicators for measuring green growth need not only to allow a certain degree of flexibility, but also to be capable of reflecting this diversity.

The concept of economic development, which is based on sustaining a welfare worthy of human dignity, has an important place in academic studies. In short, development economics, a branch of science that examines the processes of increasing the economic welfare of low and middle income countries, focuses on some fundamental questions. It focuses on basic problems such as the disparity in levels of development between countries or the state's role in development processes. This discipline has become even more important in the last hundred years. In other words, it no longer focuses only on increasing the level of welfare, but also on how to achieve and sustain environmentally sound growth. But can social welfare be increased without harming the environment, can major growth imbalances between countries be brought to a more equitable position, as well as promoting a way of life worthy of human dignity? Environmentally sensitive development has now moved from theory to practice. These practices have gone beyond voluntary efforts and continue to evolve into mandatory regulations day by day. The best example of this is the gradual transition to carbon emissions management by mandatory mechanisms based on the idea that voluntary mechanisms are insufficient. Sustainable economic policies are becoming increasingly important within these limits, revealing the necessity of development without conflicting with nature. Industrial policies are considered as an important instrument of economic development. Countries in transition from an agricultural to a postindustrial economy have implemented selective government policies. The importance of these policies was realized especially after the Second World War where they were used to repair war damages. Dani Rodrik argues that the government's support for certain economic activities more than others indicates the implementation of industrial policies. Yülek (1998), on the other hand, defines these policies as incentives applied in countries' priority industrial areas. In the 1980s, with the rise of neo liberal economics, state intervention was tried to be reduced, but in the 1990s, the mainstream economy again turned towards industrial policies. During this period, general effective horizontal industrial policies were preferred. However, further research has revealed the importance of extensive state intervention in the success of East Asian countries. In 2000s, the need for active industrial policies for late industrializing countries was highlighted. Nowadays, the issue of how to design and implement industrial policy has become important.The global economy is experiencing a transformation with the paradigm of sustainability and green growth emerging. The transformation brings significant opportunities alongside its challenges for countries. At this point, the study examines Singapore as a case study, which is an excellent lesson for countries at all stages of development that take advantage of the opportunities of green economic transformation. Singapore's development journey serves as a significant example in development economics. Despite limited natural resources and geographic constraints, Singapore has achieved notable success through innovative industrial policies and green growth strategies. By analyzing Singapore's economic development, policies, and strategies, this study aims to provide valuable insights for other economies. Singapore's experience highlights key lessons for achieving sustainable growth and implementing green industrial policies, focusing on leadership, state involvement, and adherence to national and international commitments.Through both quantitative and qualitative analysis, the study illustrates Singapore's successful development since its independence in the 1960s, highlighting its management of green policies within the context of green growth. The analysis is based on a case study, compiled and evaluated through literature studies and key indicators included in the scope. This article is extracted from my master's thesis entitled "Industrial Policy and Green Growth in a Small Island Economy: The Case of Singapore," supervised by Prof. Dr. Murat Ali Yülek, completed in 2024 (Master’s Thesis, OSTIM Technical University, Ankara, Turkey, 2024).

Decarbonization under green growth strategies? The case of South Korea

Both China and Korea have embarked on far-reaching green growth (GG) strategies that promise to lay the foundations for a transition from a predominantly ‘brown’ to a green industrial system. These...

Anticipating industry localization effects of clean technology deployment policies in developing countries

Financial fragility, ICT capital, environmental policy stringency, and education are the main factors that have also gained popularity regarding their impact on green growth. This study examines the impact of financial fragility, ICT capital, environmental policy stringency, and education on green growth. For analyzing the short- and long-run estimates, we have applied the panel QARDL model. The results of the panel QARDL model highlight that the estimates of non-performing bank loans and bank costs are negatively significant in both the short and long run, implying that financial fragility hurts green growth in the short and long run. Similarly, the estimated coefficients of the internet (mobile) and education estimates are positively significant in the short and long run, confirming that ICT capital and education are causing green growth, while environmental policy stringency promotes green growth only in the long run. Regarding the asymmetric effects of all the factors on green growth, the Wald test only confirms asymmetric effects in the long run. The study offers several significant recommendations for sustainable green development policies.

This paper is concerned with the impact on the global greenhouse effect issues and focus on comprehensive multi-indicator though analyze the relationship between CO2 emissions and real GDP, energy intensity, fraction of the renewable energy supply out of the total energy supply, and energy consumption from different sectors, including the agricultural, service, industrial and transport sectors. The panel data encompass all 37 Organization for Economic Co-operation and Development (OECD) member countries covering 20 years from 2000 to 2019 and divide into two subsamples, the first and second ten years, for comparison. The empirical results of all parameters track the sound progress of green growth trend in OECD countries in the second ten years (2010–2019). According to the OECD, green growth strategy had been acknowledged in OECD Ministerial Council Meeting in June 2009. Thus, the study divided into the first and second ten years with 2010 as the boundary to compare and the empirical result also indicates the green growth strategy in OECD countries have gradually matured in the last ten years. The implementation of the policy framework and measures includes pricing, removing perverse subsidies, ensuring the regulatory standards of energy efficiency, innovation, and infrastructure investments might also provide a reference and important information for energy policy makers.

Green Growth and Corporate Sustainability Performance