March 22, 2023 12:34 am

The United Nations Conference on Trade and Improvement (UNCTAD) says Latin America and the Caribbean (LAC) may perhaps miss out on the positive aspects of the “green tech” revolution unless governments and the international neighborhood take decisive action now.

“We are at the starting of a technological revolution primarily based on green technologies. This new wave of technological transform will have a formidable influence on the international economy,” stated UNCTAD Secretary-Common Rebeca Grynspan.

In its most recent report titled “Technology and Revolutionary Report 2023,” UNCTAD stated the 17 technologies covered have the possible to make market place revenues of additional than US$9.five trillion by 2030.

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But the report showed that pretty handful of building nations, like the Caribbean, have the capacities required to profit from such green tech as blockchain, drones, gene editing, nanotechnology, and solar energy.

Ranking 166 nations primarily based on info communication and technologies ICT), capabilities, analysis and improvement, industrial capacity, and monetary indicators, the index is dominated by such higher-revenue economies as the Netherlands, Singapore, Sweden, and the United States.

It also shows that nations in Latin America, the Caribbean, and sub-Saharan Africa are the least prepared to harness frontier technologies and are at danger of missing existing technological possibilities.

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UNCTAD notes that utilized to create goods and solutions with smaller sized carbon footprints, the new wave of green technologies spans artificial intelligence to electric automobiles.

The report calls for coherent policy action to allow building nations to profit from green tech or danger facing expanding financial inequalities, as created nations reap most positive aspects.

“Developing nations have to capture additional of the worth getting designed in this technological revolution to develop their economies,” stated Grynspan stated.

“Missing this technological wave since of insufficient policy focus or lack of targeted investment in creating capacities would have extended-lasting damaging implications,” she added.

Although green tech exports from building nations rose to US$75 billion from US$57 billion amongst 2018 and 2021, their share of the international market place fell to 33 per cent from 48 per cent. In the course of the very same period, green exports from created nations jumped to US$156 billion from US$60 billion.


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