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Cover: Climate Report 2017: South Korea

Climate Report 2017: South Korea

Climate Finance and the Private Sector in the G20 States

By Taedong LeeJuly 6, 2017


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Private climate finance has gained momentum in Korea since 2010, when the country joined the competition to host the Green Climate Fund. Korea sees itself as a mediator, not only between developed and developing parties but also between the public and private sectors as regards their contributions to the 100 billion US dollars target by 2020. The public sector in Korea has not only led the discussion but also sought out initiatives to facilitate private climate finance.

In 2012, The Renewable Portfolio Standard replaced the feed-in tariff system in order to accelerate Korea’s renewable energy deployment in a competitive market environment.© sunhee, AdobeStock
In 2012, The Renewable Portfolio Standard replaced the feed-in tariff system in order to accelerate Korea’s renewable energy deployment in a competitive market environment. Source: © sunhee, AdobeStock

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