Unctad- technology and innovation report 2023

• The report Technology and Innovation Report 2023 was recently released by United Nations Conference on Trade and Development (UNCTAD).
• It is built around the concept of green innovatione., creating or introducing new or improved goods and services that leave lighter carbon footprints and open up green windows of opportunity.
• Major findings of report
  • Expenditure variance -While EU countries spend 3% of GDP on Research & Development, only a few developing countries reach 1% of GDP expenditure.
  • After Paris Agreement of 2015, most countries have increased their climate-change-related, green official development assistance(ODA).
  • Within UN system, Global Environmental Facility (GEF) is largest public sector funding source for transferring Environmentally Sound Technologies(ESTs).
• Recommendations to foster international cooperation for green innovation
  • Align trade with Paris Agreement on Climate Change.
  • Partnership oriented approach to green technology development.
  • Shifting research for green innovations from national to international levels, including open innovation approaches.

About UNCTAD

• UNCTAD is a permanent body of the United Nations General Assembly, formed in 1964, that deals with trade issues, investments and other matters concerning development.
• Headquarters- Geneva, Switzerland.