As stated in other sections, much of the technology needed for such improvements can be cost effective, but must be supported by long-term operational commitments and regulatory certainty in order to de-risk investments. Some emerging economies have acquired production capacities by integrating into global value chains - and are now recognised as industry leaders in some low-carbon technologies. The global economy is abandoning the idea of North-South technology transfer and evolving towards a South-South exchange that better reflects the needs of and opportunities within emerging and developing countries.