Digital Economy Report 2024 released by UN Trade and Development | Current Affairs | Vision IAS
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    Digital Economy Report 2024 released by UN Trade and Development

    Posted 11 Jul 2024

    2 min read

    Report highlights urgent need for sustainable strategies throughout life cycle of digitalization for environmentally sustainable and inclusive digital future.

    • As per the report, internet users have increased from 1 billion in 2005 to 5.4 billion in 2023. 

    Environmental footprint of Digitalization

    • GHG emission: ICT sector is estimated to have accounted for 1.5– 3.2 % of global GHG emissions in 2020.
    • Surge in e-waste: Increase in online shoppers has led to a 30 % rise in digital-related waste from 2010 to 2022, reaching 10.5 million tonnes globally.
    • Water footprints: Data centres not only have considerable electricity needs but also require water for cooling.
      • In 2022, Global data centres alone consumed 460 terawatts hours (expected to double by 2026).
    • Ensuring supply of Critical minerals: Demand for minerals required for digitalization like graphite, lithium, and cobalt could surge by 500 % to 2050.
      • In an effort to secure mineral, countries may encourage hoarding and overcapacity in production of minerals. This may result in less efficient processes and large environmental footprint.

    Key Recommendations

    • Adopting Circular economy models 
    • Strengthen regulations by enforcing tougher environmental standards 
    • Invest in renewable energy, support R&D of energy-efficient technologies 
    • Incentivize and promote new sustainable business models (e.g., electronic products as a service)

    About UN Trade and Development

    • Genesis: Established as a permanent intergovernmental body by the United Nations General Assembly in 1964.
    • Objective: To aid developing countries, particularly the least developed ones, and transitioning economies, in integrating effectively into the global economy.
    • Members: 195 nations (including India)
    • Flagship Reports: Trade and Development Report, World investment Report, etc.
    • HQ: Geneva, Switzerland
    • Tags :
    • UN Trade and Development
    • Digital Economy Report 2024
    • Environmental footprint of Digitalization
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