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Key to Success: Measures to Promote Climate Technology-Finance Linkage between South Korea and MDBs

Asian Journal of Innovation and Policy / Asian Journal of Innovation and Policy, (P)2287-1608; (E)2287-1616
2023, v.12 no.2, pp.268-276
Jaeryoung SONG
Yong Jun Baek

Abstract

As the climate crisis intensifies, the need to improve the climate resilience of developing countries is ever increasing. Hence, the international community is seeking ways to effectively conduct climate technology transfer by linking the projects with financial mechanisms. However, commercialization of climate technology in developing countries is no easy feat as comprehensive knowledge on the target country is a prerequisite for seeking a suitable technology-financial linkage measure. Hence, in-depth discussions on effective climate technology and financial linkage measures have become an important global agenda, and South Korea, as a country with long experience in climate technology transfer, and a strong ecosystem for public climate technology, should step forward to take up a leading role. Against this backdrop, this paper proposes strategies and implementation measures for linking funds from the Multilateral Development Banks (MDB) with Korea’s Public Climate Technology (PCT) by examining several key areas of R&D, international cooperation, and technology commercialization.

keywords
Climate Technology, Climate Financing, Commercialization, Multilateral Development Banks, Research and Development

Asian Journal of Innovation and Policy