WTO ASSERTS INTERNATIONAL TRADE KEY TO FIGHTING CLIMATE CHANGE
The World Trade Organization’s (WTO) Director-General addressed the need for international trade policies and global cooperation during a speech at the COP27 climate summit attended by world leaders last week. Director-General Ngozi Okonjo-Iweala asserted that climate goals cannot be met without considering the role of international trade.
“There is one big missing issue in what we need to do to fight climate change, and that is the absence of trade and trade policies in the nationally determined contributions and national adaptation plans. We cannot afford to leave trade and WTO behind.”
Ngozi Okonjo-Iweala, Director-General
World Trade Organization
In her speech, Okonjo-Iweala announced the publication of the World Trade Report, which highlights ways governments can use trade to help address climate change.
The report’s recommendations include:
- minimizing trade barriers for environmental goods and services
- partnering to measure and verify carbon emissions
- moving from the WTO’s “Aid-for-Trade” initiative to a program that supports sustainable trade opportunities in developing countries
“We know that companies’ biggest climate impacts are often in their supply chains, so it’s critical that global trade participates in climate solutions,” says Anne Shudy Palmer, Green Worldwide Shipping’s Director of Sustainability. “Businesses and governments must engage their supply chains, including transport and logistics providers, to accelerate decarbonization and the transition to a clean, just economy.”
Stay up-to-date on freight news with Green’s Weekly Freight Market Update by following us on Facebook, Instagram, and LinkedIn. For continuous updates, make sure to check out our website at greenworldwide.com.
