Innovation in Green Technologies: An opportunity for business in low and middle income countries?

Organized by the Private Sector Development Research Network

Hosted by the International Finance Corporation (IFC)

Friday, November 14th, 2025 from 9-10am EST

ABOUT THE SEMINAR

This seminar will discuss IFC’s Innovation in Green Technologies (2025) report, which examines how developing economies are shaping and benefiting from the global transition to cleaner growth. The report finds that low- and middle-income countries are not only adopting but also increasingly innovating and exporting green technologies—from renewable energy components to climate-resilient goods—making this sector a growing driver of trade and economic opportunity.

The discussion will highlight evidence that innovation capacity in these countries is expanding, with researchers and firms moving upstream in the value chain. Falling costs of innovation and technology diffusion are helping close gaps with wealthier economies, yet significant barriers remain. Financing constraints, weak policy frameworks, and infrastructure shortfalls limit the ability of many countries to fully realize their potential in the green technology space.

The seminar will also explore the role of policy, investment, and development finance in overcoming these barriers. By strengthening enabling environments and mobilizing capital, low- and middle-income countries can accelerate adoption and innovation in green technologies, yielding both climate and economic dividends. Participants will gain insights into how international investors, policymakers, and development institutions can support this shift, and what it means for the future of sustainable growth.

Complete paper can be found here.  

ABOUT THE SPEAKER

Ralf Martin

Principal Economist, Economic and Market Research

Ralf is the Principal Economist for Environment and Sustainability at the IFC Economic Research Department. He is also a Professor of Economics at Imperial College Business, London. In his research he is interested in issues related to the transition to a Net Zero Economy and how it can be achieved with minimal harm to economic prospects. He conducted research on the impact of key climate policies such as the EU ETS, Industrial policy and the relationship between growth, climate change and innovation. He holds a Ph.D. in Economics from the London School of Economics.

Learn more about Ralf’s research here.