With the aim of sharing examples and lessons learnt on green growth, the World Bank and the Korea Green Growth Partnership have launched the new “Green Growth in Action” Knowledge Note Series.
Lessons learnt from Korea
The first issue, “The Green Growth Movement in the Republic of Korea: Option or Necessity”, by World Bank Senior Economist Sang Dae Choi, explains why the country adopted green growth as a new national development strategy and details how it has been implemented by the government. The author suggests that Korea adopted green growth as a new economic growth paradigm to create new growth engines and jobs through green technology and greening of industries. The green growth path was seen as essential not just for sustainable economic growth, but also to improve the quality of life and well-being of the Korean people.
The paper also details how green growth was implemented by the Korean government; draws together key outcomes to date from Korea’s green growth policy; and suggests lessons learnt which could be applied to other countries.
The Korea Green Growth Partnership
The Korea Green Growth Partnership (KGGP) is a World Bank initiative which aims to increase the knowledge base of green growth and thereby mainstream green growth operationally into the design and implementation of projects to achieve sustainable economic development. The central objective and mission of the KFFP is to meet the needs of World Bank clients, allowing them to design, plan and implement green growth initiatives, strategies and investments. The pursuit of these objectives is expected to strengthen the cooperation between the World Bank and contributing countries such as Korea to further support developing countries in operationalizing include green growth investment and initiatives.