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System Architecture for Effective Green Finance in Korea
Region: Asia
Location: Korea, South
Published August 31, 2011
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Every country is increasingly interested in the green economy and developing green growth. Different principles, strategies, and methods have been announced. Korea has also acknowledged the importance of the green economy. Because this is a common interest around the world, Korea is pursuing various ways to collaborate with other nations. At the same time, Korea has also formulated a unique framework for developing its green economy, and it has designated green growth as part of the national strategy. The Presidential Committee on Green Growth came up with the vision, objectives, and policy direction. Green technologies and industries are relatively new and do not have much of a track record. In this sense, they can be thought of as risky; therefore, financing for these projects cannot depend on traditional financial mechanisms and sources. For effective financing for innovative green technologies and industries, the right system architecture is more important than any particular type of institution or instrument.

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