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녹색금융의 현황 및 활성화를 위한 과제(Green finance and related issues for future development)

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Title 녹색금융의 현황 및 활성화를 위한 과제(Green finance and related issues for future development)
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Material Type Reports
Author(Korean)

구정한

Publisher

서울:한국금융연구원

Date 2009-12
Series Title; No 정책조사보고서 / 2009-05
ISBN 89-503-0403-1 93320
Pages 200
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Documents
Original Format pdf
Subject Territorial Development < Environment
Holding 한국금융연구원; KDI 국제정책대학원

Abstract

As green growth becomes a new national growth model in Korea, many people including Korean government are getting interested in green financial market. However, Korean financial institutions are not active in green financial market because they don't have expertise on this area.

This paper introduces the current international trend in green finance area such as socially responsible investment, greenhouse gas emissions trading, etc and addresses some suggestions for future development of green financial market in Korea. Some of the suggestions are following. First, the government should use policy tools combining incentives and regulations appropriately. Second, when the government use a policy tool, it should clarify the purpose of the policy and minimize uncertainty related to the policy. Third, the government should use tools, such as matching funds, to maximize the participation of financial institutions. Fourth, the government should prepare emissions trading system by setting up a legal system for emissions trading. Fifth, the government should be careful of herding behavior by financial institutions. Since private sector is willing to provide funds to green industry with good track record, the government should pay more attention to the green industry with some obstacles in financing, such as green companies with good technology but lack of collaterals.