Strategies for Climate Response Fund Management Toward Achieving Carbon Neutrality by 2050
- Author Lim, Hyungwoo
- Researchers Kim, Haedong;Kim, Jinsoo;Kong, Hyunsuk;Moon, Jongwoo
-
Date
2024-10-31
1. Status of Domestic and International Climate Response Fund Management
As the importance of climate finance increases in response to climate change, the significance of public climate finance through public funds is also growing. Established in 2022, the Climate Response Fund was created to secure the resources necessary for effectively addressing the climate crisis and promoting the transition to a carbon-neutral society and green growth. As of 2024, it accounts for about 20% of the overall carbon neutrality budget, focusing on four main areas: greenhouse gas reduction, just transition, building a foundation for achieving carbon neutrality, and fostering new promising low-carbon ecosystems.
In 2024, the distribution of the Climate Response Fund across four areas shows that the carbon neutrality greenhouse gas reduction sector accounts for approximately 43%, representing the largest share, which has been increasing each year. The establishment of a foundation for achieving carbon neutrality and the creation of new promising low-carbon ecosystems represent 21.2% and 26.8%, respectively. Although the just transition holds the smallest share at 8.7%, its proportion of the total budget is increasing annually, indicating a growing interest in just transition efforts
1.1 Status of domestic climate response fund management
The main sources of revenue for the Climate Response Fund include auction revenues from the emissions trading scheme, transfers from the Transportation-Energy-a ...
As the importance of climate finance increases in response to climate change, the significance of public climate finance through public funds is also growing. Established in 2022, the Climate Response Fund was created to secure the resources necessary for effectively addressing the climate crisis and promoting the transition to a carbon-neutral society and green growth. As of 2024, it accounts for about 20% of the overall carbon neutrality budget, focusing on four main areas: greenhouse gas reduction, just transition, building a foundation for achieving carbon neutrality, and fostering new promising low-carbon ecosystems.
In 2024, the distribution of the Climate Response Fund across four areas shows that the carbon neutrality greenhouse gas reduction sector accounts for approximately 43%, representing the largest share, which has been increasing each year. The establishment of a foundation for achieving carbon neutrality and the creation of new promising low-carbon ecosystems represent 21.2% and 26.8%, respectively. Although the just transition holds the smallest share at 8.7%, its proportion of the total budget is increasing annually, indicating a growing interest in just transition efforts
1.1 Status of domestic climate response fund management
The main sources of revenue for the Climate Response Fund include auction revenues from the emissions trading scheme, transfers from the Transportation-Energy-a ...