We live in a time of rapid technological change, at the height of the digital transformation and the early stages of the Industry 4.0 revolution. When guided by an inclusive and sustainable compass, these technological waves have great potential to increase prosperity and protect the planet, bringing about the vital transformations needed to achieve the SDGs and put the world on a sustainable path. They also offer a window of opportunity for developing countries to catch up technologically and narrow global divides. Critical areas for innovation in this new technological revolution are renewable energy technologies and frontier technologies for sustainable production and consumption. The Technology and Innovation Report examines the opportunities and challenges posed by green innovation on the ability of developing countries to catch up, reduce inequalities and contribute to tackling climate change. It argues that green policies are key to create the windows of opportunities. At the same time, firms and governments must be ready to respond and take advantage of these opportunities. This requires sector-specific strategies and the support of the international community to empower developing countries to develop, use, adopt and adapt green technologies for sustainable development.