If nations want to be the leading economies tomorrow, they must start investing in clean technologies. And leaders at the ongoing Cancun climate summit have begun to “recognize and act upon” the economic opportunities of green technologies, says the president of the World Business Council for Sustainable Development.
“[T]here is a ‘Green Race’ emerging towards a more resource-efficient economy. This presents huge opportunities for national and international economies which are recognised not only by businesses but also by countries,” Bjorn Stigson writes in an opinion-editorial piece published in IPS.
Domestic markets should be transformed to build demand for and scale up the production of green technologies, Stigson says. This can only be attained through a collaboration between governments and the private sector.
“Countries will ultimately determine the playing field, but they cannot achieve success without business as the partner who provides the bulk of solutions. That isn’t to say business can continue to sit idly by, the private sector has been lacking in action as a result of the financial crisis. When it’s given the appropriate triggers, business must and will spring to life,” Stigson concludes.