Policy Options for Promoting Green Technologies in the Arab Region

As the world embarks on implementing the 2030 Agenda for sustainable development, the Arab region lags behind on the road towards sustainable development and inclusive growth. The region faces considerable challenges in generating and adopting green technologies: it faces, difficulties absorbing or diffusing such innovations, as well as facing socioeconomic, and political impediments. Governments can encourage businesses to adopt green technologies by applying economic policy instruments, providing access to financial mechanisms, supporting research and development, and improving the overall environment of doing business. If the Arab region aims to improve competitiveness, enhance environmental performance, and ensure citizens' prosperity through a more sustainable future, it needs to adopt and implement economic policy instruments and mechanisms providing a stable and long-term regulatory framework that allows for sound business decisions and attracts investors. This report makes the case for economic policies as an important tool to promote green technology and achieve sustainable development goals. It provides an overview of economic policy options, draws on examples from the Arab region and beyond