COP27: WTO launches report on trade as cornerstone for climate action | TheCable

The World Trade Organisation has launched a report on how adopting international trade policies into national climate plans can improve global efforts to address climate change.

“The report shows that, without global cooperation on ambitious climate policies, the world will not achieve the Paris Agreement’s goal of limiting the global temperature rise to well below 2 degrees Celsius,” the report stated.Presenting the report, Okonjo-Iwela said it shows that trade is useful for achieving climate goals and part of the solution for achieving a low-carbon, resilient and just transition.

“With all these announcements of financing, I’m sure people are wondering what the world trade organisation is doing. We don’t have money to announce, but I do want to say how pleased I am hearing the new commitments that are being made to this project,” she said.“It’s really made me glad, congratulations to you partners and all the donors that are stepping forward, I think this is fabulous. We need to recognise that whilst financing is very very important, trade policy can block everything.

“So I just want to tell everybody that by leaving out trade policy from what is being done on the climate side is a big missing piece and this why the WTO has noticed that it has done this piece of work on climate change.

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