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Electric vehicles, solar and wind energy and green hydrogen are projected to reach a market value of $2.1 trillion by 2030, four times higher than they’re worth today. The industries are set to explode as nations try and limit their planet-warming emissions to try and curb warming to 1.5 or 2 degrees Celsius (2.7 to 3.6 degrees Fahrenheit)

Don't leave Global South out of green tech growth, UN warns

The majority of developing nations are set to miss out on the economic benefits of booming green technologies, slowing progress toward their climate goals and widening the inequality gap between rich and poor countries, a United Nations report warned Thursday

By WANJOHI KABUKURU
Published - Mar 16, 2023, 08:21 AM ET
Last Updated - Aug 07, 2024, 01:07 AM EDT

The majority of developing nations are set to miss out on the economic benefits of booming green technologies, slowing progress toward their climate goals and widening the inequality gap between rich and poor countries, a United Nations report warned Thursday. 

The U.N.'s agency for trade and development, or UNCTAD, said that unless the international community and national governments actively tend to green tech industries in developing countries, the benefits associated with lower-emission technologies will be near inaccessible for many poorer nations particularly in Latin America, the Caribbean and sub-Saharan Africa. 

“We are at the beginning of a technological revolution based on green technologies,” said UNCTAD Secretary-General Rebeca Grynspan. “Developing countries must capture more of the value being created in this technological revolution to grow their economies.” 

Electric vehicles, solar and wind energy and green hydrogen are projected to reach a market value of $2.1 trillion by 2030, four times higher than they’re worth today. The industries are set to explode as nations try and limit their planet-warming emissions to try and curb warming to 1.5 or 2 degrees Celsius (2.7 to 3.6 degrees Fahrenheit).  

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