Green industrial policy (GIP) is essential for directing the global green transformation, but its implementation is complicated by existing competing paradigms and powerful concentrations of capital. A necessary global perspective must scrutinize how these power dynamics hinder an equitable shift, especially for the Global South. These developing nations face significant headwinds, including limited fiscal space, technological dependence, and geopolitical pressures. Therefore, GIP must be structurally designed not only to reverse fossil fuel reliance but also to ensure inclusive economic development by overcoming these challenges and justly distributing the benefits of sustainability worldwide.
