Adoption of digital repositories for CO 2 emissions reduction: the case of Korea

Wankeun Oh and Eun G. Park

Applied Economics, 2016, vol. 48, issue 40, 3812-3825

Abstract: This study aims to estimate the potential economic benefits, energy and CO 2 emissions reductions when using trusted third-party digital repository (TTPR) services in one individual bank, and within the banking industry in Korea. First, the cost, benefit and net benefit of using TTPR services in the banking industry are estimated. Second, the net induced output effect is estimated. Third, based on an environmentally extended input--output analysis, CO 2 emissions reduction was estimated as 1924.32 tons in 2009 and the energy consumption reduction as 640.70 TOE. Fourth, the total economic benefit, which is the sum of the net induced output effect and economic value of CO 2 emissions reductions, is approximately $11.04 million. The findings demonstrate that energy consumption and CO 2 emissions reductions are meaningful enough to result in significant economic benefits. Therefore, the Korean government should promote the use of TTPR services in the entire industry.

Date: 2016
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DOI: 10.1080/00036846.2016.1145351

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