The suspension of the World Trade Organization (WTO) Twelfth Ministerial Conference in December 2021 did not stop talks on how international trade and trade policy can support environmental and climate goals and promote sustainable production.
On March 31, WTO ministers participating in the Trade and Environmental Sustainability Structured Discussions (TESSD), coordinated by Costa Rica and Canada, met to begin discussions on topics in the agreed work plan for 2022.
This is how the participants addressed trade-related climate measures and policiesThe WTO reported that more than 4.600 trade-related climate measures were notified between 2009 and 2020, the vast majority related to the energy sector, primarily alternative and renewable energy, and energy conservation and efficiency.
There was also a report on an exchange of information between WTO research staff and other international organizations (IMF, OECD, UNCTAD and World Bank) on their ongoing analytical work related to trade modelling and climate change, with a view to fostering technical coordination and pointing out areas of possible cooperation.
Regarding the Challenges and opportunities for sustainable trade, highlights of the project, supported by the Enhanced Integrated Framework “Aligning Climate and Trade Policy for Least Developed Countries”, were provided. In addition, a factual note summarizing past experiences and current efforts in promoting and facilitating environmental goods and services, as well as selected research on the potential benefits and challenges of trade in environmental goods and services, was presented. It is complemented by relevant information from other initiatives, including in the context of APEC and selected regional trade agreements.
Members shared their experiences on grants made and national efforts to promote a circular economy. They also discussed about The challenges and opportunities for sustainable trade, as well as their views on the scope and priorities of work in this area.
On the occasion, the International Institute for Sustainable Development (IISD) gave a background presentation on fossil fuel subsidies, with an overview of the different types of subsidies provided, measurement, impacts and reform efforts. The IISD representative noted different estimates from various international organizations on the amount of fossil fuel subsidies provided, but said that the trend towards declining subsidies in recent years is likely to be reversed with the recent rise in oil prices.
The above topics will be discussed in depth at formal meetings scheduled for 19-20 July and 26-27 October, respectively. At the same time, active intersessional work will be carried out by informal working groups led by facilitators. A high-level stocktaking event will conclude the 2022 activities.
The TESSD discussions were launched in November 2020 with the aim of complementing the existing work of the WTO Committee on Trade and Environment and other relevant WTO committees and bodies.WTO Press Release)
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