The Korean New Deal and smart buildings: fighting climate change while creating jobs and growth
Official digital side event for the P4G Seoul Summit
Time: May 25, 2021, 2.30-4.00 PM SGT / 3.30-5.00 PM KST / 8.30-10.00 am CEST
We need to re-energise the economy and create jobs, but we still need to address the issue of climate change. Luckily, each challenge demands the same solution – investment in a low-carbon economy. In other words, we need a Green Restart.
The Korean New Deal is an excellent example of how to turn the idea of a Green Restart into policy. It aims to achieve net-zero emissions by 2050 and to accelerate the transition towards a low-carbon green economy by investing 114 trillion won (USD 94.5 billion) to create 1.9 million jobs by 2025. It’s two main policies – the Digital New Deal and Green New Deal together highlight the potential of smart, connected, low-carbon societies that boost economies as well as human well-being.
Smart commercial buildings hold a huge potential to deliver on the aims of both policies. Buildings account for nearly 40 per cent of global energy and about 1/3 of global greenhouse gas (GHG) emissions – and have massive potential for energy savings.
Higher requirements for new and renovated buildings and smart digital solutions will ensure they pollute as little as possible. At the same time, the construction sector is labor intensive and local, resulting in quick job creation. Nine to thirty jobs are created for every million USD invested in energy efficiency in buildings.
This event will spotlight how a Green Restart in general, and the Korean New Deal in particular, can help recover economies in a sustainable way, and accelerate our path towards net-zero emissions.
We will take the case of smart, energy efficient commercial buildings as an example of how governments and private companies in partnership can accelerate recovery and climate action in the most efficient way.
Together with key Korean, Danish and private sector stakeholders, we’ll discuss topics like:
- How far can we get with existing solutions and what examples can we show today?
- What obstacles must we overcome to implement existing solutions?
- What policies are needed to enable faster action on decarbonisation of buildings?
- Mr. Jeppe Kofod, Minister of Foreign Affairs of Denmark
- Mr. SungHwan Kim, Member of Parliament, Chairman of Green New Deal Committee
- Ms. Karin Finkelston, Vice President, Partnerships, Communication, and Outreach, IFC
- Mr. Lee, President, Korean Energy Agency
- Mr. Young Kyoon Jeong, CEO Chair of the board, Heerim Architects & Planners Co., Ltd.
- Mr. Kristoffer Böttzauw, Director General, Danish Energy Agency
- Mr. Prashant Kapoor, Chief Industry Specialist, Green Buildings and Cities, IFC
- Mr. Niels Arbjerg, Danfoss Regional President, Asia Pacific Region