Sonnenschein Jonas, Mundaca Luis

The research casts light on the extent to which the Korean Green Growth Strategy has been effective in decarbonizing the economy. On the short term (2008–2012), most of the drivers displayed an enhancing effect on CO₂ emissions from fuel combustion, with GDP per capita being the strongest driver. From a historical perspective (1971–2012), findings reveal that important drivers, such as energy and CO₂ intensity even worsened their effects during the first years under the Green Growth Strategy. Despite recent policy developments, i.e. the introduction of a renewable portfolio standard in 2012 and an emissions trading system in 2015, several key policy challenges for decarbonization remain.