NDB Side Event at COP30

Achievement of the global climate goals requires not only finance, but also the rapid diffusion of science, technology and digital innovation within initiatives being undertaken across various sectors of the economy. The transition to low-emission, climate-resilient development and economic advancement depends on breakthroughs in clean energy, industrial decarbonisation, sustainable agriculture, and resilient infrastructure. Yet access to relevant technologies in these sectors and the financing to deploy them remains highly uneven. Many developing economies also face high upfront costs, policy uncertainty, and weak innovation ecosystems that limit their ability to benefit from technological progress.

Science, technology and innovation can help bridge the gap by steadily improving the efficiency, reliability, and affordability of low-carbon solutions. The cost of renewable energy and energy storage continues to decline, supported by incremental advances in design, materials, and system integration. Smarter grids and digital management tools are improving the stability of electricity systems, while cleaner fuels are offering practical options for hard-to-abate sectors. Emerging applications of data analytics and artificial intelligence are helping governments, firms, and financiers assess risks and track project performance with greater precision. Rather than replacing existing approaches, these innovations can make climate investments more targeted, fit for purpose and effective, creating a stronger basis for long-term financing and innovation.

This event explored how digital innovation and artificial intelligence can serve as key enablers to low-carbon transitions, and how public policy and development finance can accelerate its diffusion. By connecting science with finance, and technology with development priorities, the session aimed to identify pathways for facilitating an accelerated and innovation-driven low carbon transition.