Industrial Trends and Prospects in Response to the Green Swan Post-Pandemic

Soyoung Lim ()
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Soyoung Lim: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 21-20, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: With the outbreak of COVID-19, the world has formed a consensus on the importance of sustainability and interest in sustainability is higher than ever. The heretofore paradigm of the global economy, in which short-term efficiency was the most important organizing purpose, is shifting toward long-term sustainability. In terms of investment and finance, sustainability factors are becoming important, and consequently, the industry is also assigning weight to activities and business operations that consider sustainability beyond financial returns. Green Swan events are serious and complex, with a certain risk of occurring in the future in some form. Therefore, even if the timing and impact of their occurrence is unpredictable, they are events that require active preparation. Climate change impacts represent Green Swan events. They are irreversible, with widespread and multifarious effects around the world. After COVID-19, there is a need to consider the pandemic as a Green Swan event. This is because it is recognized that the global spread of infectious diseases after COVID-19 is likely to occur or is expected to occur, and that it is irreversibly transforming the global economic and social system. This report examines trends in Environmental, Social, and Governance (ESG) investment, which have recently come to dominate discussions of investment standards, and analyzes the status of strengthening climate change information disclosure and establishing a green classification system to enhance the objectivity and transparency of green activities

Keywords: green swan; green swan event; sustainability; climate change; Korea; environment; environmental economics; COVID-19 (search for similar items in EconPapers)
JEL-codes: Q56 Q58 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2021-12-01
New Economics Papers: this item is included in nep-agr, nep-env and nep-hme
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