Given the increasing concern around climate change and environmental degradation, green growth policies have taken centre stage. These policies stress the importance of transitioning away from traditional manufacturing methods and consumer behaviour towards sustainable practices that prioritize environmental conservation. To achieve this goal, it is critical to leverage technological advancements that can facilitate the shift towards cleaner manufacturing processes, especially in developing countries.
As societies strive for technological advancement, the costs of research and development escalate, putting pressure on a nation’s fiscal resources. In response to mounting concerns about climate change and environmental degradation, the popularity of green growth policies has surged. However, the transition from carbon-heavy industrial practices to cleaner alternatives demands a substantial amount of funding.