UN Commission Underlines Importance of Science, Tech, Innovation

Following its twentieth meeting, in May 2017 in Geneva, the UN Commission on Science and Technology for Development (a subsidiary body of ECOSOC) has affirmed the critical contribution of science, technology and innovation to development and improvements in human welfare. The Commission called for increased investments in these areas, along with redoubled efforts to build scientific and technical capacity in developing countries. The members of the Commission underscored in particular the transformative impact of ICTs and the need to create enabling conditions for e-commerce. And they noted the importance of collaboration among different types of stakeholders - including firms - in ensuring that technological advancement contributes to sustainable development. Private sector investments in R&D and commercial channels for technology diffusion are critical to not only ensuring that technology solutions exist and can be deployed where needed, but also to building local absorptive capacity.