Top Countries Ready for Green Tech Shift

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by KnowESG
KnowESG_Green Tech
Image courtesy of https://www.weforum.org/

According to data from the United Nations Conference on Trade and Development (UNCTAD), the top five countries that are well-equipped to use, adopt, or modify frontier technologies—a critical aspect of the green tech transition—are the United States, Sweden, Singapore, Switzerland, and the Netherlands.

The UNCTAD ranked 166 countries based on five indicators - ICT, Skills, Industry, Research and Development, and Finance - to assess their readiness to use frontier technologies. The final score was calculated by adding the ranks of each indicator. For instance, the United States ranked 2nd in Research and Development, 11th in ICT, 18th in Skills, 16th in Industry, and 2nd in Finance, resulting in a sum of 49.

Guinea, the Democratic Republic of Congo, Gambia, Guinea-Bissau, and South Sudan are the five countries that ranked the lowest in all five categories and were placed at the bottom of the list.

Latin America, the Caribbean, and sub-Saharan Africa are among the regions that are least prepared to utilise frontier technologies, putting them at a higher risk of losing out on current technological prospects.

China, known for its innovation and production of frontier technologies, surprisingly ranked 35th due to its disparity in internet coverage and broadband speed between urban and rural areas. Among other BRICS members, Brazil ranked 40th, India ranked 46th, and South Africa ranked 56th.

Some Asian countries performed better than expected, such as India (55th), the Philippines (57th), and Vietnam (45th). Interestingly, India's actual index ranking was 67 places higher than the projected ranking based on per capita income, which UNCTAD researchers attribute to increased investment in infrastructure, improved technical skills, and a favourable business environment.

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Source: World Economic Forum

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