The WTO has issued its World Trade Report. Among other findings, it underlines the direct link between international trade and climate change / environment.
The complete report is available at these links:
The introduction to the report asserts that the climate change is having a profound impact on people’s lives across the world. Mitigating and adapting to climate change will require major economic investment and coordinated action to transition to a sustainable, low-carbon economy.
It says that the trade can play an essential role in helping countries reduce emissions by increasing the availability and affordability of environmental goods, services and technologies. International trade can also help countries adapt to the impacts of climate change and build future resilience.
The introduction to the report asserts: Ensuring that trade and climate change policies are mutually supportive requires global coordination and transparency about government measures. The WTO already plays an important part in helping countries to tackle climate change by maintaining a predictable trading environment underpinned by WTO rules that enable international trade in the goods and services needed to cope with the consequences of climate change. However, the mutual supportiveness of trade and climate change policies could be strengthened by further international cooperation at the WTO.
Central Asia as a region is already working along the same lines. There are fast-paced initiatives to switch to alternative energies despite the fact that Central Asia is among richest zones in the world in term of hydrocarbon reserves.
The trade is visibly switching to digital solutions, with new developments being reported almost every day.
The concern for ecology, environment and climate change is now an integral part of the feasibility studies for all the new major projects. The existing facilities are also being audited for their compliance with the ecological concerns and commitments.
The partnership between the WTO and Central Asia can go a long way in dealing with the issues arising from the climate change. /// nCa, 20January 2023