World News

World News17.03.2023

Embrace green tech revolution or risk falling behind, new UN report warns

QAZAQ GREEN.  Many developing countries may miss out on the benefits of the “green tech” revolution unless governments and the international community take decisive action now, the head of the UN Conference on Trade and Development (UNCTAD) said on Thursday, releasing its latest report.

“We are at the beginning of a technological revolution based on green technologies,” UNCTAD Secretary-General Rebeca Grynspan said. “This new wave of technological change will have a formidable impact on the global economy.”

UN News reports that the 17 frontier technologies covered in UNCTAD’s Technology and Innovation Report 2023 have the potential to create market revenues of more than $9.5 trillion by 2030, about three times the size of India’s economy today.

Coherent action

Used to produce goods and services with smaller carbon footprints, the new wave of green technologies spans artificial intelligence to electric vehicles.

The report calls for coherent policy action to enable developing countries to profit from green tech or risk facing growing economic inequalities, as developed countries reap most of the benefits.

“Developing countries must capture more of the value being created in this technological revolution to grow their economies,” Ms. Grynspan said. “Missing this technological wave because of insufficient policy attention or lack of targeted investment in building capacities would have long-lasting negative implications.”

Early adopters advance faster

While green tech exports from developing nations rose to $75 billion from $57 billion between 2018 and 2021, their share of the global market fell to 33 per cent from 48 per cent. During the same period, green exports from developed countries jumped to $156 billion from $60 billion.

UNCTAD’s analysis shows that developing countries must act quickly and move to a development trajectory leading to more diversified, productive, and competitive economies. Previous technological revolutions have shown that early adopters can move ahead quicker and create lasting advantages.

Wanted: agency and urgency

Proactive industrial, innovation, and energy policies targeting green technologies are needed in developing countries so they can benefit from the green tech revolution, said Shamika N. Sirimanne, director of UNCTAD's technology and logistics division.

“Developing countries need agency and urgency in coming up with the right policy responses,” she said. “As developing countries respond to today’s urgent interconnected crises, they also need to take strategic, long-term action to build innovation and technological capacities to spur sustainable economic growth and increase their resilience to future crises.”

UNCTAD calls on governments in developing countries to align environmental, science, technology, innovation, and industrial policies, and urges them to prioritize investment in greener and more complex sectors and provide incentives to shift consumer demand towards greener goods.

The report also calls for an international programme to guarantee purchases of tradable green items, coordinated green technology research at the multinational level, increased support for regional centres of excellence for green technologies and innovation, and a multilateral fund to stimulate green innovations and enhance cooperation between countries.

‘Least ready’ countries

The report’s “frontier technology readiness index” shows that very few developing countries have the capacities needed to profit from such green tech as blockchain, drones, gene editing, nanotechnology, and solar power.

Ranking 166 countries based on ICT, skills, research and development, industrial capacity, and finance indicators, the index is dominated by such high-income economies as the Netherlands, Singapore, Sweden and the United States. It also shows that countries in Latin America, the Caribbean and sub-Saharan Africa are the least ready to harness frontier technologies and are at risk of missing current technological opportunities.

 

 

18.06.2024
How is Saharan dust impacting solar power?
17.06.2024
Two companies won auction for construction of 100 MW wind farm in Abai region
17.06.2024
UK Announces £300 million investment in world-leading clean energy storage project
14.06.2024
RES auction: EcoWind to build 200 MW wind farm in Kostanay region
14.06.2024
Norway discovers Europe’s largest deposit of rare earth metals
13.06.2024
Auction for WPP construction starts with a record price reduction in Kazakhstan
13.06.2024
18MW offshore wind turbine is installed in China’s Guangdong
13.06.2024
Kyrgyzstan and IFC sign agreement on solar power plants
12.06.2024
Thomas Edison’s birthplace and museum now officially powered by solar energy
12.06.2024
Record low price set following the results of auctions for the construction of small HPP in Kazakhstan
12.06.2024
Samsung C&T Corporation interested in implementing renewable energy projects in Kazakhstan
11.06.2024
The price at the auction for construction of small HPPs reduced by 76%
11.06.2024
China set to smash national hydrogen targets, solidifying lead in global electrolyzer market
10.06.2024
Auction bidding for RES have started in Kazakhstan
07.06.2024
Global investment in clean energy to reach $2 trillion in 2024
05.06.2024
5 trends for global electricity and renewable energy markets in 2024 according to S&P Global
04.06.2024
JinkoSolar claims 33.24% efficiency for perovskite-silicon tandem solar cells
04.06.2024
QazaqGreenFest: How Kazakhstan is making its future greener
03.06.2024
QazaqGreenFest: Decarbonization of economy will exceed investments in it several times - UNDP
03.06.2024
QazaqGreenFest: Kazakhstan to fully achieve carbon neutrality by 2060