Another forum to address trade & climate issues

The newly announced "Coalition of Trade Ministers on Climate" has no less than 4 co-leads: EU, Kenya, New Zealand and Eucador and 27 jurisdictions signed up (so far).

►This "high-level political dialogue" will examine "ways in which trade policies can support the most vulnerable developing and least developed countries that face the greatest risks from climate change." Emphasis has been placed on its "inclusiveness".

►The output?: The official statement pledges "concrete outcomes". According to the European Commission press release, it will provide "political guidance and identify trade-related strategies." .

And how will this work with other fora?

►The existence of this coalition was discussed in the margins of MC12 last year. Earlier this week WTO director Dr Ngozi Okonjo-Iweala vocally defended the relevance of the WTO as an actor in multilateralism at Davos. This new forum is supposed to support "ongoing efforts in this area in the World Trade Organization ". VP Dombrovskis emphasised again that WTO reform must integrate climate change concerns. Discussions on that reform process continue.

LINKS

➢Video of press conference for the launch: https://www.weforum.org/events/world-economic-forum-annual-meeting-2023/sessions/press-conference-launch-of-the-coalition-of-trade-ministers-on-climate

Press release: https://lnkd.in/eRQ4aHGH