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Korea’s Green ODA: Performance and Challenges

  • 저자 Yul Kwon
  • 발간번호239
  • 발간일2022-06-09
As international solidarity and cooperation become ever more crucial in the age of COVID-19, efforts in the international community to respond to global issues in the post-COVID-19 era are also receiving a major boost. In particular, the United States, EU and other leading nations held a virtual climate summit in April 2021, announced their 2030 greenhouse gas reduction goals and are actively promoting decarbonization policies and sustainable growth. 

In response to the global pandemic crisis, discussions on green ODA to support climate change action and green transition in developing countries are also in full swing. At the P4G Seoul Summit held in May last year, the Korean government pushed for transition to a low-carbon economy through Green New Deal policies and “net zero by 2050” strategies, together with plans to expand support for developing countries seeking green recovery by 2025. 

In addition, the Committee for International Development Cooperation (CIDC) convened in July last year to establish the Green New Deal ODA Promotion Strategy, which aims to achieve the goal of expanding green ODA. Development cooperation in the green sector currently accounts for 20% of the total ODA (2015–2019 average), but the Korean government plans to significantly increase the proportion of ODA in the green sector to above the OECD average (28.1%) by 2025. 

In order to lead global cooperation in the green sector to sustain momentum for green transition and boost efforts in the international community, the Korean government has pledged $300 mil-lion in support for the Green Climate Fund (GCF) by 2027. It also plans to expand cooperation with the Global Green Growth Institute (GGGI) through the establishment of a Green New Deal Fund to support consulting and financing green industry activities for developing countries in five major Green New Deal areas. In order to enhance the effectiveness of ODA in green sectors and strengthen development partnerships, it is necessary to focus on areas such as green energy and eco-friendly mobility in developing countries and promote capacity development.
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