Brookings Institution / by Nathan Hultman, Jason Eis and Katherine Sierra
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:
- Cultivating innovation capacity and ecosystems in least developed countries (LDCs);
- Facilitating and strengthening existing entrepreneurial cultures;
- Significantly scaling up research and development (R&D) activities through competitive grants;
- Encouraging financing for large-scale demonstration and deployment of complex but transformative new technologies; and
- 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.