Green industrial policies will be critical for developing countries to adapt to climate change, UN trade and development body UNCTAD said in a report published on Thursday. The agency has called for a “transformative approach” that will allow these nations to address current and future climate threats while also driving growth and job creation. UNCTAD said many developing countries are caught in an “eco-development trap” as vulnerability to economic and climate shocks are compounding each other, resulting in permanent disruption, economic uncertainty and slow productivity growth. To escape the eco-development trap, the report recommends that climate adaptation in developing countries should include key features such as “abandoning austerity as the default policy framework”, large-scale public investment in renewable energy and green technologies, and adopting a green agricultural policy that protects small producers and the environment.
By UN News. October 28, 2021.
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