The United Nations Conference on Trade and Improvement (UNCTAD) says Latin America and the Caribbean (LAC) might miss out on the advantages 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 modify will have a formidable effect on the worldwide economy,” stated UNCTAD Secretary-Common Rebeca Grynspan.

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

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But the report showed that really couple of creating nations, such as the Caribbean, have the capacities necessary 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), expertise, study and improvement, industrial capacity, and monetary indicators, the index is dominated by such higher-earnings 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 present technological possibilities.

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

The report calls for coherent policy action to allow creating nations to profit from green tech or danger facing increasing financial inequalities, as created nations reap most advantages.

“Developing nations should capture extra of the worth getting produced in this technological revolution to develop their economies,” stated Grynspan stated.

“Missing this technological wave mainly because of insufficient policy consideration or lack of targeted investment in constructing capacities would have lengthy-lasting unfavorable implications,” she added.

Though green tech exports from creating nations rose to US$75 billion from US$57 billion involving 2018 and 2021, their share of the worldwide market place fell to 33 per cent from 48 per cent. Through the very same period, green exports from created nations jumped to US$156 billion from US$60 billion.

CMC/