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COP27: WTO calls for removal of barriers to green trade

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The World Trade Organization's annual world trade report, issued at the United Nations climate conference COP27 in Egypt, calls for not bringing trade and climate change fight into opposition.

It is misleading to think that trade is only a source of greenhouse gas emissions, says the WTO, which argues that it can also allow the spread and use of green innovations and technologies.

According to the organization's economists, the resulting improvements in energy efficiency and increased use of renewable energy could reduce net carbon emissions by 0.6%.

Although tariffs on environmental goods are, on average, lower than for other goods, they remain relatively high in low-income countries, the report also notes.

It emphasizes that trade has already played an important role in the global climate response. Thus, she cites as an example, the cost of solar panels has fallen over the past three decades, and “about 40% of the cost drop has been attributed to economies of scale made possible by international trade and value chains.”

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COP27: WTO calls for removal of barriers to green trade

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