We are at the beginning of a green technological revolution. If developing countries act now to catch this wave, they can grow stronger economies while tackling climate change.
– UNCTAD Secretary-General, Rebeca Grynspan
Copyright: unctad.org – “Technology And Innovation Report 2023”
The Technology and Innovation Report 2023 highlights the opportunities that green innovation – goods and services with smaller carbon footprints – offer developing countries to spur economic growth and enhance technological capacities.
The report analyses the market size of 17 green and frontier technologies, such as artificial intelligence, the Internet of Things and electric vehicles, and their potential to create jobs.
Now is the time for developing countries to capture more of the value being created in this green tech revolution – and use it to grow their economies, make them more resilient to shocks and reduce inequalities.
UNCTAD calls on their governments and business communities to invest in more complex and greener sectors, boost technical skills and scale up investments in the technology infrastructure needed to grow green industries.
To support this evolution, the report urges the international community to make global trade rules more supportive of emerging green industries in developing economies and reform intellectual property rights to facilitate technology transfer to these countries.
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The green tech gap between countries is widening
We are at the beginning of a technological revolution based on green and Industry 4.0 technologies – and developing countries must catch the wave early. As shown in previous technological revolutions, early adopters can move ahead quicker and reap the advantages for longer.
Now is the moment for developing countries to take advantage of the high increases in productivity associated with this new technological revolution and catch up economically, while helping to protect the planet.
Missing this green technological wave because of insufficient policy attention or a lack of investment targeted at building skills and capacities would have long-lasting negative consequences.
The 17 frontier technologies covered in the report such as artificial intelligence, Internet of Things and green hydrogen already represent a $1.5 trillion market, which could grow to over $9.5 trillion by 2030 – about three times the current size of the Indian economy.
But so far, developed economies are seizing most of the opportunities, leaving developing economies further behind.[…]
Read more: www.unctad.org