The European Union (EU) has committed to increasing the role of trade in combating climate change and protecting the environment, according to a statement from the European Commission.
To this end, the bloc has signed three new initiatives to intensify joint action at the World Trade Organization, “sending a strong political signal on the pursuit of a solid environmental agenda for trade,” the text reads.
Under this framework, the EU and “a significant number” of WTO countries will now work together to facilitate trade in green goods and services, promoting sustainable supply chains and the circular economy. They will also cooperate in the fight against plastic pollution and in improving the transparency of fossil fuel subsidies.
In this regard, Executive Vice-President and Trade Commissioner Valdis Dombrovskis said: “Countries around the world, including developed and developing WTO Members, are joining forces to send this strong political signal, and I am confident that more will join in the future.”
The official warned that “Climate and environmental issues need to be addressed holistically, not in isolation: that is why the EU recently initiated the idea of a Trade Ministers’ Climate Coalition.” He added that “this could make a big difference in building political momentum, helping to support the work we are launching today.”
On WTO initiatives
Regarding the initiatives, it was noted that “they are an important milestone in paving the way for future actions in such an important area. They are open to other WTO members who wish to join at any time.”
The first of these three initiatives is the commercial and environmental sustainability initiative, under which 57 endorsing WTO members agree to discuss trade-related climate measures and policies that can best contribute to climate and environmental objectives. In this context, they will explore approaches to facilitate trade in environmental goods and services. They will study how to compile best practices to achieve a circular economy, promote sustainable supply chains and encourage global adoption of environmental goods and services. The initiative will also identify challenges and opportunities for sustainable trade in developing countries.
Within the framework of the second initiative on the reform of fossil fuel subsidies, 15 WTO members will develop options to promote transparency on fossil fuel subsidies in the WTO and facilitate fossil fuel subsidy reform. They will also encourage other WTO members to join these efforts, while adapting to the specific needs of developing countries.
Finally, a group of 67 WTO members agreed to a initiative on plastic pollution and sustainable plastics tradeThey will launch a work on understanding global trade in plastics, including flows of plastics embedded in internationally traded goods. Through it, members will seek to implement best practices to support developing and least developed countries in tackling plastic pollution and will support other international efforts in this area.
These WTO initiatives are part of the EU's overall approach to promoting climate action and environmental protection globally, the statement concludes.Press release from the European Commission)
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