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

TEMEP Discussion Paper No. 2014:118

22 Pages Posted: 11 Oct 2014

See all articles by Stefan Niederhafner

Stefan Niederhafner

Seoul National University - Department of PoliSci & IR

Date Written: October 1, 2014

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, Emissi on Trading, Kyoto Protocol

JEL Classification: F53, H10, H23, H41, L50, L52, K23, N55, N75, O13, O14, O25, P41, Q40, Q54

Suggested Citation

Niederhafner, Stefan, The Korean Energy and GHG Target Management System: An Alternative to Kyoto-Protocol Emissions Trading Systems? (October 1, 2014). TEMEP Discussion Paper No. 2014:118. Available at SSRN: https://ssrn.com/abstract=2508143 or http://dx.doi.org/10.2139/ssrn.2508143

Stefan Niederhafner (Contact Author)

Seoul National University - Department of PoliSci & IR ( email )

Seoul
Korea, Republic of (South Korea)

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