Directions for Achieving Carbon Neutrality in Manufacturing by 2050

Sangwon Lee () and Jaeyoon Lee ()
Additional contact information
Sangwon Lee: 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
Jaeyoon Lee: 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 21/3, Research Papers from Korea Institute for Industrial Economics and Trade

Abstract: As the severity of climate change is increasingly recognized throughout the world, the international community has announced plans to achieve carbon neutrality and has introduced policies to curb greenhouse gas emissions. The Korean government is also devising concrete measures to achieve carbon neutrality by 2050, and going carbon free in industry, which produces a large portion of such emissions, is a key task. While carbon neutrality is a challenging goal given the manufacturing-centric structure of Korean industry, setting up an effective response system based on cooperation between the private and public sectors is an essential response to an irreversible tide. The climate crisis is a prime opportunity to find new drivers of growth without harming industrial competitiveness through a decarbonization strategy that includes the adoption of new eco-friendly fuels and materials, more efficient energy use, and innovative processes based on sectoral characteristics. This paper explores potential directions for decarbonization in Korea.

Keywords: manufacturing; decarbonization; carbon neutrality; net zero; manufacturing policy; industrial policy; green infrastructure; regulatory reform; green transition; renewable energy; alternative energy; green technology; green innovation; Korea (search for similar items in EconPapers)
JEL-codes: O13 O21 O25 O30 O33 O38 Q01 Q42 Q48 Q52 Q54 Q55 Q56 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2021-08-26
New Economics Papers: this item is included in nep-des, nep-ene and nep-env
References: Add references at CitEc
Citations:

Downloads: (external link)
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4328012 Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:kietrp:2021_003

Access Statistics for this paper

More papers in Research Papers from Korea Institute for Industrial Economics and Trade Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea. Contact information at EDIRC.
Bibliographic data for series maintained by Aaron Crossen ().