Kim Seung Yu, Former Chairman of Hana Financial Group, Inc.——Combat Climate Change via Global Cooperation
I think low-carbon development is very important. Climate change is truly a global mission. We need to develop different solutions as climate change covers environmental, technological, and economic as well as many other factors. Any country alone is less powerful for that matter. We need to engage in global cooperation. The principle remains same, but there are many specific factors and problems. Both developed and developing countries should participate in the endeavor to reduce greenhouse gas emission. So I want to emphasize the role of technology and finance which are very important and could help us cope with climate change.
First, we need to do much work to build a successful mechanism. We must step up efforts and take a market-oriented approach to tackle this issue. It's important to develop more sustainable policies and see the participation of more private sectors. The future global mechanism addressing climate change should be established on a more equal basis and be kept flexible. Beyond that, the wider participation of various countries matters a great deal. Technical innovation is also very important, including technology transfer and effective financing for energy-saving technologies, which will ensure all of these efforts will be paid off.
The year 2015 is a crucial year that will define our fight against climate change by 2020, including the level of contribution of each country. We shall look to reach a consensus for that matter. The meeting will be convened in Paris later this year to which, I'm afraid, we must pay more attention.
Most of the major economies have put this high on their agenda. South Korea has embarked on the road to green development in 2008 as it works to build a bridge between the advanced developed countries and developing ones. We have actively facilitated technologies as such since this year, including carbon-related financing. We proposed 100 billion worth capital in the climate summit. We also resolutely supported some global institutes and low-carbon development roads, especially the low-carbon development road of developing countries. We are now faced with lower growth and some economies growing rapidly have witnessed economic slowdown. We should make good preparations in this respect.