Green Industry Policies Key to Adapting to Climate Change in Developing Countries |

The agency has called for a “transformative approach” that will enable these countries to confront current and future climate threats, as well as foster growth and job creation.

Environmental development trap

UNCTAD said that many developing countries are trapped in a “green development trap” as vulnerability to economic and climate shocks exacerbates each other, leading to irreversible disruptions, economic uncertainty and slow productivity growth.

“The report demonstrates that taking sufficient measures to adapt to climate challenges will require a reformed approach that is proactive and strategic, not just retroactive,” said Rebeca Greenspan, UNCTAD Secretary-General.

“But governments in developing countries need adequate political and financial space to mobilize large-scale public investment to tackle future climate threats, while ensuring that this investment complements development goals.”

V study this is the second part of the annual UNCTAD Trade and Development Report, released in September.

Adaptation costs are on the rise

The UN agency said that while climate change adaptation is seen as a kind of “poor cousin” of mitigation, it is shortsighted and costly for developing countries where climate shocks have damaged growth prospects and forced governments to reallocate scarce resources.

Adaptation costs for developing countries have doubled over the past decade due to inaction and will rise further as temperatures rise, reaching $ 300 billion in 2030 and $ 500 billion in 2050.

While countries have been encouraged to strengthen their resilience to climate change by improving data collection and risk assessment, the report argues that “adaptation is less about risk management than development planning,” with government playing a key role.

Sustainable and meaningful impact

“Climate change adaptation and development are inextricably linked, and policy efforts for adaptation must recognize this in order to have a sustainable and meaningful impact,” said Richard Kozul-Wright, director of UNCTAD’s globalization and development strategy and lead author of the report. …

He suggested that the only long-term solution, therefore, “is to“ create a more resilient economy through a structural transformation process and reduce the dependence of developing countries on a small number of climate-sensitive activities ”.

The report proposes to “modernize” the development to implement an environmental industrial policy, taking into account local economic conditions.

For example, renewable energy production can be carried out on a small scale, which opens up business opportunities for small firms and rural areas.

This will help diversify economic production in general, reduce dependence on basic commodities, and even broaden the tax base, helping to create new domestic sources of development finance.

To avoid the green development trap, the report recommends that adaptation to climate change in developing countries include key features such as “abandoning austerity as a default policy framework”, large-scale public investment in renewable energies and green technologies. and the introduction of environmentally friendly agricultural practices. policies that protect small producers and the environment.

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