Technology and Innovation Report 2023

Technology and Innovation Report 2023

News: The Technology and Innovation Report 2023 was recently released by UNCTAD. It highlights the opportunities that green innovation – goods and services with smaller carbon footprints offer developing countries to spur economic growth and enhance technological capacities.

Key Findings:
 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.
 While countries in the EU reach a Research & Development expenditure of 3% of GDP, only a few developing countries reach 1% of GDP expenditure.
 Most countries have increased their climate-change-related, green official development assistance (ODA).
 Within the UN system, Global Environmental Facility (GEF) is the largest public sector funding source for transferring Environmentally Sound Technologies (ESTs).
 India remains the greatest overperformer ranking at 67 positions better than expected, followed by the Philippines (54 positions better) and Viet Nam (44 better).
 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.

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