According to the data released by the United Nations Conference on Trade and Development (UNCTAD), the five countries most prepared to use and adopt technologies that are essential to the green tech transition are the United States, Sweden, Singapore, Switzerland and the Netherlands.
In contrast, at the bottom of the ranking of 166 countries based on their level of preparedness were Guinea, the Democratic Republic of Congo, Gambia, Guinea-Bissau and South Sudan.
UNCTAD researchers used five indicators to assess countries worldwide: ICT, skills, industry, research and development, and finance.
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As a clear observation of the results shows, there’s a clear divide between high- and low-income countries. To be specific, Latin America, the Caribbean and sub-Saharan Africa are the least ready to harness frontier technologies, which puts them at the most risk of missing out on current technological opportunities.
Additionally, EY stated that there are three action areas to focus on when promoting green growth: guidelines and frameworks, technological innovation and responsible technology usage. By bringing together the business and public sectors as well as academic and government institutions, it will be more beneficial to co-create sustainable benefits enabled by technology.
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In a separate PWC study, $6 billion worth of investment has been allocated in climate tech since 2013 by 12 Middle Eastern countries, with the first half of 2022 alone taking $1.6 billion out of the total amount.
Generally speaking, both demonstrating sufficient preparedness and assuming a leadership role in green tech will enable the growth of an ecosystem, which is essential for addressing the demands of the ever-evolving digital era sustainably.
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