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Adoption of digital repositories for CO 2 emissions reduction: the case of Korea

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  • Wankeun Oh
  • Eun G. Park

Abstract

This study aims to estimate the potential economic benefits, energy and CO 2 emissions reductions when using trusted third-party digital repository (TTPR) services in one individual bank, and within the banking industry in Korea. First, the cost, benefit and net benefit of using TTPR services in the banking industry are estimated. Second, the net induced output effect is estimated. Third, based on an environmentally extended input--output analysis, CO 2 emissions reduction was estimated as 1924.32 tons in 2009 and the energy consumption reduction as 640.70 TOE. Fourth, the total economic benefit, which is the sum of the net induced output effect and economic value of CO 2 emissions reductions, is approximately $11.04 million. The findings demonstrate that energy consumption and CO 2 emissions reductions are meaningful enough to result in significant economic benefits. Therefore, the Korean government should promote the use of TTPR services in the entire industry.

Suggested Citation

  • Wankeun Oh & Eun G. Park, 2016. "Adoption of digital repositories for CO 2 emissions reduction: the case of Korea," Applied Economics, Taylor & Francis Journals, vol. 48(40), pages 3812-3825, August.
    • Handle: RePEc:taf:applec:v:48:y:2016:i:40:p:3812-3825
    DOI: 10.1080/00036846.2016.1145351
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    Cited by:

    1. Charfeddine, Lanouar & Umlai, Mohamed, 2023. "ICT sector, digitization and environmental sustainability: A systematic review of the literature from 2000 to 2022," Renewable and Sustainable Energy Reviews, Elsevier, vol. 184(C).

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