Together with the loss of biodiversity and the increase of pollution, climate change has emerged as a crucial component of the ‘Triple Planetary Crisis.’ In this regard, the transition from the Kyoto Protocol to the Paris Agreement represented a paradigm shift from a top-down form of climate governance founded on legally binding ‘targets and timeframes to a bottom-up approach promoting voluntary commitments through ‘soft reciprocity.’ Due to this paradigm shift and the inertia of the Sustainable Development Goals, global levels of climate commitments have gradually increased over the years. However, as noted in the latest IPCC[1] and Emissions Gap Report[2], the latest submissions of Nationally Declared Contributions do not yet reflect the ambition needed to reach the Paris goal of limiting climate change to 1.5 to 2°C, despite all future scenarios exceeding 1.5°C by 2040. Accordingly, together with the impetus to ‘build back better’ from COVID-19, the Green New Deal has emerged as a policy solution in many countries.
In this vein, the Republic of Korea (ROK) has recently announced its Korean New Deal, which incorporated a Green New Deal as one of its primary components. Through this initiative, the ROK has affirmed its commitment to promote the green transition of infrastructure, low carbon and decentralized energy, and innovation in the green industry. To this end, the ROK is planning to pursue not only stand-alone environmental projects, but also integrated projects incorporating a digital focus.
Having also published a strategy to ‘globalize’ its New Deal, the ROK has declared its intent to support other countries with facilitating similar structural changes. This is important as, despite having the political will to do so, many governments have been unable to formulate their own Green New Deal strategies. As such, the ROK will be strengthening, among other things, its ‘Green New Deal ODA’ by enhancing support for green transitions in developing countries, leading global cooperation on the Green New Deal, and building mutually beneficial partnerships. In this regard, it is worth noting that many of the ROK’s relevant strategic documents specifically mention UNDP as a potential partner organization with whom to undergo joint interventions.
These developments in the ROK’s strategic approach are relevant for UNDP because its Strategic Plan for 2022 to 2025 outlines the need to promote the green and digital transformation of partner countries as one of its three primary drivers of change. Thus, being mandated to share the ROK’s development experience, UNDP Seoul Policy Centre (USPC) is seeking to identify additional opportunities to cooperate with the ROK at both the business unit and corporate level. This builds on prior partnership experiences which involved activities such as facilitating policy discussions on ‘building back better.’
[1] IPCC. 2021. AR6 Climate Change 2021 The Physical Science Basis: Summary for Policymakers. https://www.ipcc.ch/report/ar6/wg1/#SPM.
[2] UNEP. 2020. Emissions Gap Report 2020. https://www.unep.org/emissions-gap-report-2020.
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