UN Pact : Global Benefits Flow from Shared Innovation

Australia is urged to increase funding to share sustainable technology and research with developing nations, as part of its support for the UN Pact for the Future. The Pact, adopted at the UN s Summit of the Future, emphasizes the importance of open innovation, education, and data accessibility. It calls for developed nations to assist in adapting environmentally sound technologies to local needs and circumstances, while also protecting Indigenous intellectual property. Professor Matthew Rimmer from QUT s School of Law, who researches intellectual property and sustainable development, highlights the Pact s focus on making innovations and scientific breakthroughs accessible to all. Despite Russia s attempt to delay the Pact s adoption, it was ultimately approved with a focus on raising funds for sustainable innovation. Foreign Minister Penny Wong led the Australian delegation to the Summit, advocating for UN system reform and supporting the Pact for the Future. She promised to replenish the Asian Development Fund to aid vulnerable nations and offered Climate Resilient Debt Clauses in sovereign loans by 2025. Additionally, Australia plans to build sustainable south-south connectivity via submarine cables across the Pacific and Timor-Leste. In summary, Australia is encouraged to boost funding and support for the UN Pact for the Future, which aims to share sustainable technology and data with developing nations. The Pact emphasizes open innovation, education, and the protection of Indigenous intellectual property. Australia s commitment to this cause is demonstrated through its delegation s advocacy at the Summit of the Future and its plans to support vulnerable nations through various initiatives.

Source: miragenews.com
Published on 2024-09-26

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