FSC’s Vice Chairman at Global Green Growth Forum (2)


Plans for Financial Policy Support for Green Industrial Vitalization


Last Thursday, I went to ‘4th Global Green Growth Forum’. Mr. Choo, Vice-chairman of the FSC, gave a speech about how to vitalize green industry.

About the role and status of green financial policy, you can find the details at https://financialservicescommission.wordpress.com/2012/10/10/fscs-vice-chairman-at-global-green-growth-forum-1/. Here I’m about to point out several things regarding the future plan of financial policy support.


FSC’s Vice Chairman, Choo Kyung-ho, at Global Green Growth Forum 2012


First, we should raise substantiality and effectiveness of financial policy support. Mr. Choo stated that we should choose and focus on a promising field. That is, to enable blue chip companies to receive more centralized support. For example, we can line up companies according to ‘green levels’ showing their efforts to pursue green growth. Depending on the green level, a company is to be benefited gradually.


Second, an effective role of financial industry should be established. This means that with an industrial growth, the role of each financial sector should be adequately distributed. In this way, both financial policies and private sectors can complement each other, while easing crowding-out effects.


Third, the participation of private sectors should be more vitalized. By introducing market-friendly incentives and risk sharing, we should encourage private sectors’ spontaneous participations. They can make non-taxable green financial products, and use listed-special-system to vitalize IPO of companies with green technology.


Lastly, we should create proper markets and ecosystem. It can be done by creating demands for green financial products and making a sound ecosystem between major companies and SMEs. Then we are to lay foundation for the green industrial growth.


After all, the key to vitalize green industry is to reduce market uncertainty. To do so, the policy measures should hold consistency. Green industry is expected to be a major industry in the near future, and now it’s our task to build a sound flow of green growth and make efforts to develop it.




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