News Highlight
The United Nations in its Technology and Innovation Report 2023, published on March 16, 2023.
Key Takeaway
- Green technology, such as artificial intelligence, the Internet of Things, and electric vehicles, greatly benefit developed countries.
- According to the United Nations Conference on Trade and Development (UNCTAD), this can exacerbate global economic disparity.
- Poor nations may miss out on economic opportunities created by green technologies if governments and international organisations do not take prompt action.
Technology and Innovation Report 2023
- Key Findings of the Report
- Green technologies can generate a USD 9.5 trillion industry by 2030, up from USD 1.5 trillion in 2020.
- Total green technology exports from wealthy nations are expected to exceed USD 156 billion in 2021, up from over USD 60 billion in 2018.
- Whereas developing-country exports increased to over USD 75 billion from USD 57 billion.
- According to the report’s ‘frontier technology readiness index,’ just a few poor countries are capable of utilising frontier technologies such as;
- Blockchain
- Drones
- Solar power.
- In addition, electric vehicles, solar and wind energy, and green hydrogen are predicted to have a market value of USD 2.1 trillion by 2030.
- The high-income economies, particularly the United States, Sweden, Singapore, Switzerland, and the Netherlands, top the frontier technology readiness index.
- It ranks 166 countries.
- The second quarter of the ranking includes growing economies such as;
- Brazil, is ranked 40
- China, is ranked 35
- India, is ranked 46
- Russian Federation, is ranked 31
- South Africa, is ranked 56.
- India performs best in this category, placing 67 ranks higher than projected.
United Nations Conference on Trade and Development (UNCTD)
- About
- Firstly, it was founded in 1964 to promote trade, investment, and development in developing countries.
- It is a permanent organ of the General Assembly of the United Nations (UN).
- It is headquartered in Geneva, Switzerland.
- In addition, UNCTAD has around 190 members.
- Furthermore, the highest policy-making body of UNCTAD is the Conference.
- It meets once every four years to set policy guidelines and formulate a program of work.
- Flagship reports
- Trade and Development Report
- World Investment Report
- The Least Developed Countries Report
- Economic Development in Africa Report
- Information Economy Report
- Technology and Innovation Report
- Review of Maritime Transport
Functions of UNCTD
- Firstly, consider options for addressing macro-level development issues.
- Get advantageous integration into the worldwide commerce system.
- Diversify economies to reduce their reliance on commodities.
- Reduce their dependence on financial instability and debt.
- Attract investment and make it more conducive to development.
- Enhance the availability of digital technology.
- In addition, it encourages entrepreneurs and innovators.
- Assist local businesses in moving up the value chain.
- Increase the speed with which commodities cross borders.
- Safeguard customers from exploitation.
- Regulators that hinder competitiveness must be eliminated.
- Furthermore, it adapts to climate change and better uses natural resources.
India’s Initiatives Related to Green Technologies
- Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGYA)
- Green Energy Corridor (GEC)
- National Smart Grid Mission (NSGM) and Smart Meter National Programme
- Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME)
- International Solar Alliance (ISA)
Pic Courtesy: UNCTD
Content Source: Down to Earth