S&T Cooperation for Global Green Growth: Issues and Initiatives

It is reported that energy consumption is the largest contributing factor for the increase of the CO₂ emissions, amounting for almost 85% of all emissions. In addition, the future energy consumption of Korea is projected to grow exponentially despite of its heavy dependence on imported energy (97% of its total energy consumption). According to a recent OECD report the carbon emission level of Korea is, currently ranked 9th in CO₂ emissions, and is growing by almost 3% every year. Against this background, the Korean government introduced the “low carbon green growth” policy in 2008.

As the global challenges intensified in the wake of the world economic crisis, Korea has been working hard in raising the visibility of its efforts at the club governance meetings, in particular the G-20 summit. As a result of cooperative efforts with major member countries the G-20 summit agenda have been significantly diversified to include such long-term issues as climate change, development issues, global health and so on. To effectively achieve a green recovery for a new green world economic order the G-20 summit leaders should concentrate on a strategy of establishing a green governance for a global STI cooperation. Korea as a chair country is poised to leverage the Seoul G-20 summit to catalyze global efforts toward a new green economic order.

The world needs to weigh the costs and benefits of action or no-action on green growth as it faces the tough task of preventing an economic crisis from recurring, and subsequently achieving sustainable growth. Moreover, the world would suffer much more serious damage from a global environmental crisis than the latest financial crisis has caused, unless our "business as usual" attitude is redressed now.

This may be an opportunity for the Koreans to show the world that they have a knack for pulling out of crisis and prove themselves by making Korea a model of green growth. The Seoul G-20 green summit 2010 can be such an opportunity, as world leaders gather to forge a "Seoul Consensus" on the future direction of the post-crisis world economy.

With this background, the presentation will address issues related to global S&T cooperation for Green Growth and propose some initiatives including; 1) Global Green Growth as an global agenda, 2) 'World Green Fund' initiative as a suggestive governance framework for global S&T cooperation and global IP sharing, and 3) Outreach Programs as robust bridges between developed and developing countries.