International trade plays an important role in efforts to create a low-carbon global economy, a goal that has been set for 2030, according to a study published on Monday (07.11.2022) by the World Trade Organization (WTO).
At the presentation of the "World Trade Report 2022" within the framework of COP 27 in Egypt, the Director General of the organization, Ngozi Okonjo-Iweala, called for recognition that although the transit of goods between countries generates emissions, international trade provides access to innovative technologies essential for reducing emissions.
"We have seen a boom in global trade in solar panels, which generate electricity that has dropped in price by 98 percent since the XNUMXs," he said.
The price of solar panels themselves has fallen by 40% over the past decade, a trend Okonjo-Iweala attributed to the economies of scale made possible by the functioning of global supply chains.
He added that the WTO considers that Trade helps mitigate climate change and accelerate the transition to a low-emission global economy.
According to a series of simulations contained in the report, la Elimination of tariffs and reduction of non-tariff trade barriers for a range of environmentally-related energy sector items could boost their exports by 5% by 2030.
The result could be a 0,6% reduction in global emissions, according to WTO analysts.
The report also highlights that climate change can wipe out comparative commercial advantages that certain countries have, particularly in sectors such as agriculture, tourism and certain industries that are particularly vulnerable to this phenomenon.
The WTO therefore supports the adaptation as an essential requirement sustainable development. And it says that “without underestimating how costly and complicated adaptation will continue to be, trade can facilitate the development and deployment of adaptation-friendly technologies, such as climate-resilient crop varieties, early warning systems, and water conservation and storage systems.”
The report also states that "the opening of trade It also enables broader access to services that help prepare for climate-related disruptions, such as weather forecasting, insurance, telecommunications, transportation, logistics and health services.”
In this sense, the fight against climate change "requires the global cooperation on all fronts, and international trade cooperation, both in the WTO and elsewhere, is an integral part of these efforts,” the WTO stressed.World Trade Report 2022. Climate Change and International Trade)
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