UNCTAD’s Technology and Innovation Report 2023 highlights the opportunities that green innovation can offer developing countries for economic growth and technological advancement. The report analyzes the market size of 17 green and frontier technologies and their potential to create jobs. It also notes the widening North-South divide in research and development expenditure, with only a few developing countries reaching 1% of GDP expenditure. The report recommends that governments and businesses invest in more complex and greener sectors, boost technical skills, and scale up investments in the technology infrastructure needed to grow green industries. The report also highlights that most countries have increased their climate-change-related green official development assistance. India remains the greatest overperformer, ranking 67 positions better than expected. The report provides a positive outlook on the potential of green innovation for developing countries, but it emphasizes the need for increased investment in research and development, technical skills, and technology infrastructure.
UNCTAD’s Technology and Innovation Report 2023 Highlights Green Innovations for Developing Countries
The recently released Technology and Innovation Report 2023 from the United Nations Conference on Trade and Development (UNCTAD) focuses on the potential of green innovation to spur economic growth and enhance technological capacities in developing countries. The report examines the market size of 17 green and frontier technologies, including artificial intelligence, the Internet of Things, and electric vehicles, and their potential to create jobs.
However, the report also highlights a widening North-South divide in research and development expenditure. While some European countries are reaching 3% of GDP expenditure, only a few developing countries are reaching 1% of GDP expenditure.
The report notes that most countries have increased their climate-change-related green official development assistance (ODA). The Global Environmental Facility (GEF) is the largest public sector funding source for transferring Environmentally Sound Technologies (ESTs) within the UN system.
India remains the greatest overperformer, ranking 67 positions better than expected, followed by the Philippines (54 positions better) and Viet Nam (44 positions better). UNCTAD recommends that governments and businesses invest in more complex and greener sectors, boost technical skills, and scale up investments in the technology infrastructure needed to grow green industries.
Overall, the Technology and Innovation Report 2023 offers a positive outlook on the opportunities that green innovation can bring to developing countries, but it also highlights the need for increased investment in research and development, technical skills, and technology infrastructure.
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