The Korean Energy and GHG Target Management System: An Alternative to Kyoto-Protocol Emissions Trading Systems?

Stefan Niederhafner ()
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Stefan Niederhafner: College of Social Sciences, Seoul National University

No 2014118, TEMEP Discussion Papers from Seoul National University; Technology Management, Economics, and Policy Program (TEMEP)

Abstract: The Energy and Greenhouse Gas (GHG) Target Management System (TMS) is one of South Korea’s major instruments to achieve national energy policy as well as GHG reduction targets. The TMS was introduced in the late 1990s, focusing on energy only and aiming to reduce the level of South Korea’s energy consumption and fossil fuel imports. During the presidency of Lee Myung-bak, the system was reformed and a GHG abatement function was integrated. This paper applies an analytical governance perspective to investigate the main procedural logic of the TMS. Even though South Korea’s GHG policy is closely linked to the Kyoto Protocol, the Energy and GHG TMS does not rely on market-based instruments. In fact, it combines command-and-control components with strong voluntary network-like mechanisms. The analysis indicates that the Korean TMS thus represents a policy alternative to an emissions trading system. In conclusion and in reference to an eventual Kyoto follow-up agreement, the paper recommends a better integration of such not market based, energy consumption and GHG abatement addressing instruments with global climate change politics.

Keywords: Energy Policy; GHG Reduction; South Korea; Governance; Global Climate Change; Emission Trading; Kyoto Protocol. (search for similar items in EconPapers)
JEL-codes: F53 H10 H23 H41 K23 L50 L52 N55 N75 O13 O14 O25 P41 Q4 Q54 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2014-09, Revised 2014-09
New Economics Papers: this item is included in nep-ene and nep-env
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http://temep-repec.my-groups.de/DP-118.pdf First version, 2014 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:snv:dp2009:2014118

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