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EU promotes World Trade Organization initiatives on Trade and Environment
The European Union yesterday committed to increase the role of trade in the fight against climate change and protecting the environment. It has signed up to three new initiatives to step up joint action in the World Trade Organization, sending a strong political signal on pursuing a strong environmental agenda for trade.
The EU and a significant number of WTO countries will now work jointly on facilitating trade in green goods and services, promoting sustainable supply chains and the circular economy. They will also cooperate on battling plastic pollution and to enhance transparency of fossil fuel subsidies.
Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis, yesterday said:
“The European Union is proud to co-sponsor these initiatives at the WTO. We believe trade policy has a role to play in tackling climate change and environmental degradation, which is why our new EU trade strategy is our greenest ever. WTO must also play its part, and we are now taking important steps in this regard. Countries from around the globe, including developed and developing WTO Members, are joining forces to send this strong political signal - and I trust that more will join in the future. Climate and environment issues must be tackled in a holistic way, not in silos: this is why the EU recently initiated the idea of a Trade Ministers Climate Coalition. This could make a big difference in building political momentum, helping to support the work we launch today.”
Climate action and sustainability are a central part of the new EU trade strategy. Many other countries around the world are now also bringing forward strong policy initiatives aimed at greening trade. Multilateral cooperation has a big part to play to provide a global response, so does the multilateral trading system. The EU has been leading efforts to promote the protection of the environment and climate in the WTO. These initiatives are an important milestone to pave the way for future action in such an important area. They are open for other WTO members willing to join any time.
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