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The Economic Incentives of Achieving the Agricultural Greenhouse Gas Mitigation Target of the 2030 Reduction Roadmap of Korea

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  • Lee, Seungho

Abstract

This study analyzes the impacts of the potential economic incentives of inducing agricultural production to achieve the 2030 Greenhouse Gas Mitigation Roadmap of Korea. A multi-region multi-output agricultural sector model was constructed to analyze the impacts of the incentives. Two policy incentives, subsidizing adoption of mitigating technologies and paying for the emission reduction, and a mix of those two incentives were numerically analyzed. We found that combining those two instruments contributes to inducing CO2 emission reduction without a large agricultural production loss. It was also found that the agricultural marginal abatement cost of meeting the national mitigation target is not substantially larger than the current CO2 market price of the Korean Emission Trading Scheme.

Suggested Citation

  • Lee, Seungho, 2019. "The Economic Incentives of Achieving the Agricultural Greenhouse Gas Mitigation Target of the 2030 Reduction Roadmap of Korea," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 42(3), September.
    • Handle: RePEc:ags:jordng:330767
    DOI: 10.22004/ag.econ.330767
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    Keywords

    Environmental Economics and Policy;

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