While Denmark is a „first mover‟ on these issues, effectively decoupling economic growth and energy consumption since the oil crisis in the 1970s, Korea is a „fast mover‟ on green growth with comprehensive national and international initiatives to establish the country as one of the foremost green economies of tomorrow.

The Korean Government‟s “Low Carbon Green Growth Strategy,” formulated to substantiate President Lee‟s green growth vision, is expected to guide the nation‟s growth path for the next 60 years. It aims to achieve harmony between economy and environment and tackle the climate and environmental challenges of today by enhancing resource efficiency and securing a
new growth engine through innovation.

The national strategy currently being implemented by means of formulation of the Green Growth Five-Year Plan delineates the economy-wide initiatives to transform Korea‟s entire system of resources and energy utilization practices from power generation to industries, agriculture, forestry, land use, buildings, transportation, and so on.

Of particular importance has been the adoption of the medium-term greenhouse gas emission reduction target of 30 percent relative to the BAU scenario by 2020. The strategy also sets ambitious targets for the significant enhancement of energy efficiency and the use of renewable energy. The creation of new growth engines by developing and deploying core green technologies such as new and renewable energies as well as by greening major energy-intensive industries is also a main pillar of the strategy.

Furthermore, the Korean Government unveiled a $38 billion ”Green New Deal” plan to stimulate job creation and revitalize the economy. The plan involves nine core projects and 27 rotating projects which are expected to create 960,000 new jobs during 2009-2012. The Korean Government has also committed to a fiscal investment of 2 percent of GDP per year for the implementation of the five-year plan.

The Danish Government‟s „Energy Strategy 2050‟ outlines Denmark‟s path to becoming fully independent of fossil fuels by 2050. The energy strategy contains a range of initiatives that will reduce the energy industry‟s use of fossil fuels by 33 percent in 2020 compared with 2009.

The strategy calls for a significant increase in renewable energy obtained from wind, biomass and biogas, which over the next decade will increase the share of renewable resources to 33 percent of energy consumption. Wind power alone is expected to cover more than 40 percent of overall electricity consumption by 2020, compared with about 20 percent today. By 2020 more than 60 percent of electricity consumption will be covered by renewable energy.