• The Journal of Asian Finance, Economics and Business
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• v.10 no.1
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• pp.189-199
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• 2023

This research aims to give information about the current situation of five financial sources for climate change in Vietnam, including (i) the State budget used by ministries; (ii) the State budget used by provinces; (iii) Bilateral funds; (iv) Multilateral funds; and (v) Private funds, and then classify them in line with the effectiveness. The working paper's secondary data on spending on CC-related activities, collected from reports of six ministries and 29 provinces, show that the State budget has been crucial in subsidizing CC-related activities in Vietnam. Moreover, domestic investment has accounted for a major part of the total expenditure of ministries and provinces for climate change. In addition, by using primary data collected from surveys sent to twelve experts from 5 groups, such as researchers, practical experts, managers of private funding organizations (such as banks and enterprises), managers of international funding organizations and beneficiaries, and then analyzing the data through the AHP method, the study shows that all climate finance sources in Vietnam are still not very effective. However, private sector funds are considered the most effective financial source for responding to climate change.

• Journal of Korean Society of Water and Wastewater
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• v.34 no.3
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• pp.169-182
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• 2020

ODA finance in the water sector has decreased after reaching a peak in 2012 although total ODA commitments have steadily increased according to OECD DAC data. However, climate finance in the water sector has increased so much since 2013 according to 7 MDB Joint report on Climate Finance. Water, especially, in climate change is the main issue for adaptation, and the total finance in the water sector reached 50% of the international public adaptation finance in 2016. However, the procedures for approval and the requirements of the proposals for climate funds are different from those for development finance. Notwithstanding the changes in money flows in the water sector, most korean engineering consulting firms in the water infrastructure area are not ready to win the funds relating to climate change. Therefore, It is important to understand a variety of sources of climate funds, characteristics, funding scale on each purpose and procedures for approval. Korean government needs to provide the firms the opportunities to buildup experiences by getting involved in climate adaptation projects with the financial support for developing PPFs, concept notes, and proposals.

• Journal of Climate Change Research
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• v.9 no.2
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• pp.181-195
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• 2018

On December 12, 2015, the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) adopted the Paris Agreement, in which several developed and developing countries all committed to participating in the reduction of greenhouse-gas (GHG) emissions. South Korea has submitted an intended nationally determined contribution (INDC) proposal with a target to cut down 37% greenhouse gas business as usual (BAU) until 2030 in preparation for the 2030 GHG BAU. Under the post-2020 regime, which will be launched from 2021 as the agreement entered into force early, it is expected that efforts to support GHG reduction and adaptation to climate change in developing countries will be accelerated with the utilization of technologies and financial resources of developed countries. South Korea has established the Basic Plan for Climate Change Response and the Basic National Roadmap for Greenhouse Gas Reductions by 2030 to promote the response to climate change at the government level. The Ministry of Science and ICT, as the National Designated Entity designated by the UNFCCC, has come up with middle and long-term strategies for climate technology cooperation. South-Korea has an abundance of energy-consuming industries to support its export-oriented industrial structure; it is thus expected that achieving the GHG reduction target will incur a considerable cost. Moreover, in order to meet the reduction target (11.3%) of the intended nationally determined contribution proposed by South Korea, it is necessary for South Korea to actively promote projects that can achieve GHG reduction achievements, and financial resources are needed as leverage to reduce risks that can occur in the early stages of projects and attract private sector investment. This paper summarizes the theoretical discussions on climate finance and conducted a comparative analysis on the status of the funds related to climate change response in the UK, Germany, Japan and Denmark. Through this, we proposed the legal and policy tasks that should be carried forward to raise public funds that can be used for creation of new industries related to climate change as well as to reduce GHG emissions in South Korea. The Climate Change Countermeasures Act, which has been proposed by the National Assembly of South-Korea, stipulates the establishment of funds but there is no additional funding except for general account. In this regard, it is also possible to take measures such as the introduction of carbon tax or the collection and use of royalties through technology research and development projects for climate change, such as Industrial Technology Innovation Promotion Act. In addition, since funds are used in various fields such as domestic greenhouse gas reduction, technology development, and overseas projects, it is necessary to establish a system in which various ministries cooperate with the operation of the fund.

• Asian Journal of Innovation and Policy
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• v.12 no.2
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• pp.268-276
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• 2023

As the climate crisis intensifies, the need to improve the climate resilience of developing countries is ever increasing. Hence, the international community is seeking ways to effectively conduct climate technology transfer by linking the projects with financial mechanisms. However, commercialization of climate technology in developing countries is no easy feat as comprehensive knowledge on the target country is a prerequisite for seeking a suitable technology-financial linkage measure. Hence, in-depth discussions on effective climate technology and financial linkage measures have become an important global agenda, and South Korea, as a country with long experience in climate technology transfer, and a strong ecosystem for public climate technology, should step forward to take up a leading role. Against this backdrop, this paper proposes strategies and implementation measures for linking funds from the Multilateral Development Banks (MDB) with Korea's Public Climate Technology (PCT) by examining several key areas of R&D, international cooperation, and technology commercialization.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.46
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• pp.265-313
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• 2010

Kyoto Protocol is an international convention on concrete performance program for UNFCCC(United Nations Framework Convention on Climate Change), which regulate and prevent to global warming and officially came into effect on February 16, 2005. Kyoto flexible mechanisms, the agreed environmental system in March 1997 in the Third Conference of Parties in UNFCCC General Assembly, Emission Trading System(ETS), Clean Development Mechanism(CDM) and Joint Implementation(JI), are key policies related to environment. In advanced countries, greenhouse gas emissions should be reduced average 5.2% level compared to 1990 in total emissions during 2008-2012. World leading carbon market finished the trial on the EU ETS I greenhouse gas emissions trading system, EU ETS II is operated regularly after 2008. World Bank leads to make 'Prototype Carbon Fund(PCF)' in April 2004, which is the world first carbon fund and a representative public carbon fund type, World Bank operate various funds including present PCF. Thus, I would like to propose as follows in relation to this study: First, in the validity analysis of carbon funds, it would be needed to analyze the Emission Reduction Cost Efficiency(ERCE) of carbon. The ERCE is a break-even value which brings the Net Present Value(NPV) to zero. NPV approach is used among projects and it enables potential projects to be compared and evaluated the ERCE on the basis of the net present value of net future cash flows. Therefore, according to results of analysis, carbon funds should be developed and invested. Second, it would be necessary to allow of issuing bonds together with carbon funds, carbon finance etc. Third, carbon funds, it would be reasonable to have a relatively enough maturity in project and as a financial derivatives in the international financial markets, it is needed various types of transactions. Fourth, it would be needed to standardize the carbon emissions trading for more efficiently. Fifth, it would be necessary to establish and invest in various kinds of domestic and overseas global carbon funds, including governments, privates, governments and privates sectors. And it is also needed to establish the medium and long term plans for carbon funds. Sixth, it would be needed to foster the advanced trade mechanisms for carbon funds in the most effective ways. Finally, carbon funds should be used in harmony with international societies to reduce global warming as the social responsible investing funds and it should be contribute to sustainable development. In addition, it would seem that carbon funds should be studied on establishing the contributable standard of sustainable development in the future assignment.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.79-89
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• 2021

Green finance plays an important role in environmental protection missions and fighting climate change. The Environment Fund in Vietnam is the main channel of preferential capital offered to firms for environmental protection. Unfortunately, it was previously unknown which criteria influenced these companies' ability to obtain green financing. Using a survey method, we collected data through a structured questionnaire of 203 respondents that represent firms that had received concessional loans from 26 Environment Funds. A Multiple Linear Regression model was used to examine the determinants of access to concessional loans for environmental protection. We found relationships between age, size, ownership type, and industry sector, and access to green finance. Third-party guarantees were a significant factor in financing through Environment Funds. Moreover, we found commercial environmental projects face fewer green financing obstacles. Surprisingly, showing audited financial statements does not mitigate the information asymmetry between firms and these financial institutions. These findings suggest that Environment Funds should classify environmental project types to develop appropriate lending policies. In emerging markets, enterprises need to build a trusted relationship with financial institutions so that they can replace asset-based lending techniques, thereby increasing the firms' accessibility to green finance.

• Journal of Climate Change Research
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• v.4 no.3
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• pp.245-254
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• 2013

Korea government promote renewable energy as the core of their energy matrix to break the dependence and reduce greenhouse effects. This study analyzes the economic assessment of Solid Refuse Fuel project in urban area, considering the marginal external costs of air pollution in this area. Assessment index defined as costs (i.e., construction cost, operation cost) and benefit (margin, external cost) data which is located in Sudokwon landfill site. The result indicates that cost-benefit analysis of SRF is calculated as 1.0. In addition, SRF project is very sensitive about electric power selling price, operating cost and labor cost according to inflation rates. This study shows that the sustainability of SRF project is required the government financial support like investment funds as well as policy support. Variability analysis of SRF economic assessment due to renewable energy can be used for making policies in various fields such as waste and public energy field.

• Korean Journal of Remote Sensing
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• v.39 no.6_1
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• pp.1467-1475
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• 2023

The public-interest direct payment program involves providing direct payments to agricultural producers and rural residents through public funds, premised on performing public functions such as environmental conservation, stable food supply, and maintaining rural communities via agricultural activities. Scientific estimation of crop cultivation areas and production levels is crucial for formulating agricultural policies linked to regulating food supply, which increasingly impacts the national economy. Conducting comprehensive on-site inspections for compliance monitoring of direct payment programs has shown very low efficiency in relation to budget and time. The expansion of areas subject to compliance monitoring and various challenges in on-site inspections necessitate streamlining current monitoring methods and devising effective strategies. As a solution, the application of Remote Sensing technology and spatial information utilization, allowing swift acquisition of necessary information for policies without overall on-site visits, is being discussed as an efficient compliance monitoring method. Therefore, this study evaluated the potential use of remote sensing for improving operational efficiency in monitoring compliance with public-interest direct payment programs. Using satellite images during farming seasons in Gimje and Hapcheon, vegetation indices and spatial variations were utilized to identify cultivated areas, presence of mixed crops, validated against on-site inspection data.

• Journal of Korea Technology Innovation Society
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• v.13 no.4
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• pp.717-737
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• 2010

In the face of climate changes and economic crisis, nations across the world spare no efforts to identify new growth engine industries and lift the domestic economy by promoting green technologies and tightening environmental regulations. The Korean government also tries to create and promote new growth engine industries. As part of these efforts, it launched the New Growth Engine Fund in 2009, a private and public initiative to support small- and medium-sized companies that own promising new green technologies. However, it has a limitation on making investment in the fund due to the global economic crisis, the significant size of necessary capital investment and the difficulty of finding investment companies. The lukewarm response of the private sector arose a need to change the fund management method. Against this backdrop, this paper aims to propose efficient strategies of managing various funds such as cooperation fund between the central and local governments, incubator fund financed by the government and financial institutions and win-win cooperation fund for the government, large companies and partners as a means of developing and supporting new growth engine industries in a sustainable way. The importance of this research lies with the proposition of various funds that can be used to implement the government's strategic goal of developing new growth engine industries.

• Korea Journal of Hospital Management
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• v.22 no.3
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• pp.74-87
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• 2017

Purposes: The purpose is to establish the direction of healthcare R&D through private nonprofit organization. Methodology: The data is divided into two groups: 12 physicians and pharmacists, and 16 persons including professors related to university donation, non-profit foundation executives. Each group was subjected to two Delphi surveys. To analyze the validity of the opinion, the content validity ratio and the consensus of experts were verified. Findings: Funding should be invested in 'development research' and 'application research'. The factors that hinder the donation culture are 'donation prevention system such as tax imposition system and rebate double penalty system', 'insufficient motivation of fund raising person', and 'lack of fund specializing specialist'. The fund raising strategy should be centered on a small number of large donors or a balance between large and small donors. The fund raising target should be effective to raise funds for corporate and individual donors. It is necessary to clarify the purpose of the social problem to be solved by the campaign strategy for promoting donation, to announce the validity of the trust and transparency of the institution, and to emphasize the social investment by the private sector. Practical Implications: It is necessary to present directions through private nonprofit organizations for the future development of healthcare R&D. The legal and institutional deficiencies of the domestic nonprofit organization fundraising infrastructure should be improved. In order to create a social investment climate, it is necessary to improve the awareness of donations and develop various donation programs for the private sector.