Purposeful trade policies which support climate action can pave the way for a low-carbon future. It will therefore be of utmost importance that the world’s largest economies work together under the G20 to set out an agenda for collaboration towards a global trade system that supports change.
The low-carbon transition envisaged by countries under the Paris Agreement and the 2030 Agenda for Sustainable Development offers significant opportunities not only for the environment, but also for the global economy at large. The success of the transition will depend on the international community’s ability to implement it in a timely, inclusive and cost-effective way.
Trade can be a decisive factor in achieving this, given its unique role as an enabler for the dissemination of clean energy technologies and products with a low emissions intensity needed for implementing countries’ NDCs.
To leverage the role of trade in supporting the low-carbon transition, it will therefore be of crucial importance that countries purposefully design their trade policies in a cooperative manner. The G20, bringing together the world’s largest economies and emitters, has a unique role to play in this. Most G20 members have recognised the need to move forward in implementing the Paris Agreement as articulated at the Hamburg summit in July, and have recognised the centrality of trade and investment frameworks for sustainable development.
This side event, taking place in parallel with COP 23, weeks before the 11th ministerial meeting of the WTO and as Germany is about to hand over the presidency of the G20 to Argentina, engaged key stakeholders and decision makers on the role the G20 can play in this context.
The event was co-hosted by ICTSD and the DIE, co-chairs of the T20 task force on trade during the German G20-Presidency. It contained a presentation of preliminary findings from a yearlong project run by ICTSD regarding an agenda on trade, climate change and the G20, as well as findings from the work of the T20 during the year.
The side-event took place on Tuesday, 14 November, from 14:00-16:30 at the Interconnections Zone of the German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE).
This event is generously co-sponsored by the KR Foundation.