The COVID-19 inflation episode: Lessons from emerging markets


The COVID-19 inflation episode: Lessons from emerging markets


International Actions to Support Green Growth Innovation Goals

Achieving global goals for poverty reduction,
economic growth and environmental health
will require widespread innovation and implementation
of new and appropriate “green growth”
technologies. Establishing a sufficiently large suite
of innovative technology options, suitable to diverse
economies, and at the urgent pace required will involve
unprecedented innovation activity not only
from developed regions, but also from new clusters
and enterprises in emerging economies and least developed
countries. By linking national governments,
the private sector and the international community,
international cooperation can contribute substantively
in five green innovation priority areas: 

  1. Cultivating innovation capacity and ecosystems
    in least developed countries (LDCs); 
  2. Facilitating and strengthening existing entrepreneurial
  3. Significantly scaling up research and development
    (R&D) activities through competitive grants;
  4. Encouraging financing for large-scale demonstration
    and deployment of complex but transformative
    new technologies; and
  5. De-risking entrepreneurial investments and
    stimulating intellectual property (IP) sharing. 

In this brief we describe several ways that international
cooperation can play a critical role in facilitating this
transformative process and outline six existing institutional
structures that have been invoked as possible examples
for scaling up to foster green innovation more
broadly. Finally, we suggest several policy recommendations
that are feasible in the near term.

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