Role of Co-Innovation in Accelerating Towards Climate Neutrality

Today the global demand for cleaner technologies has been growing significantly, in order to help countries meet Paris climate goals and carbon neutrality targets. However, developing economies, many of which are vulnerable to adverse climate impacts, continue to face critical challenges in terms of availability, accessibility, affordability and adaptability of low carbon technologies. This is primarily due to the fact that the existing technology transfer mechanisms have not been able to widely promote cleaner technologies in developing countries. On the other hand, though technologically advanced countries have been keen to market cleaner technologies beyond their borders, lack of conducive economic and policy enablers continue to remain key hurdles. This paper examines the role of 'co-innovation' to strengthen collaboration among technology supplier (source) and recipient countries, and thereby helping these stakeholders accelerate towards carbon neutrality. The paper discusses conducive policy, legal and financial mechanisms in the backdrop of Asia and also presents the example of Japan's role in promoting clean technologies across the region.