Global decarbonization discussions often focus on major economies, yet developing countries face distinct challenges in competing in the “green subsidy race” due to limited fiscal capacity. This session will examine how smaller and developing economies are advancing decarbonization through trade and industrial strategies, highlighting the tools and approaches available to support low-carbon transitions despite resource constraints.

Participants will explore the forms of state intervention implemented, the opportunities and challenges these policies create, and their implications for competitiveness and participation in global value chains. The discussion will also consider the broader multilateral trading system and evolving geopolitical dynamics.

Speakers will showcase how developing countries are actively shaping the global green transition, providing practical insights and examples of strategies that support sustainable industrialization, climate objectives, and long-term economic resilience.