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The World Trade Organization on Monday urged countries to abolish trade barriers in environmental goods and services in order to help fight climate change.
In its annual World Trade Report, the WTO says international commerce should not be pitted against combating the climate crisis.
The report comes as global leaders gather in the Egyptian resort of Sharm el-Sheikh for COP27, the 2022 United Nations Climate Change Conference which opened Sunday and runs until November 18.
The WTO said it was misleading to think that trade was nothing but a source of greenhouse gas emissions, arguing that trade could also enable the spread of green innovations and technology.
"Trade is a force for good for climate, and part of the solution for achieving a low-carbon, resilient and just transition," WTO director-general Ngozi Okonjo-Iweala said in the report's foreword.
"The WTO estimates that reducing tariffs and non-tariff measures on energy-related environmental goods could increase total exports of these products by five percent by 2030 and, at the same time, lead to a net reduction in carbon emissions," the former Nigerian finance and foreign minister said.
According to the global trade body's economists, the resulting improvements in energy efficiency and increased use of renewable energy could reduce net carbon emissions by 0.6 percent.
Although tariffs on environmental goods are, on average, lower than those on other goods, they remain relatively high in low-income countries, the report said.
"While trade itself does generate emissions from production and transport, trade and trade policies can accelerate the dissemination of cutting-edge technologies and best practices, and enhance incentives for further innovation while creating the jobs of tomorrow," said Okonjo-Iweala.
She said trade had already played an important role in the global climate response, citing how the cost of solar panels had plummeted over the past three decades.
"About 40 percent of the cost decline has been attributed to scale economies made possible, in part, by international trade and value chains," the WTO chief said.
"Further opening up trade in environmental goods and services could do more."
Macron urges US, China to pay their fair share on climate
Sharm El Sheikh, Egypt (AFP) Nov 7, 2022 -
French President Emmanuel Macron on Monday urged the United States, China and other non-European rich nations ahead of COP27 talks to pay their fair share to help poorer countries deal with climate change.
"We need the United States and China to step up" on emissions cuts and financial aid, Macron told French and African climate campaigners on the sidelines of the UN climate summit in Sharm el-Sheikh, Egypt.
"Europeans are paying," he said. "We are the only ones paying."
"Pressure must be put on rich non-European countries, telling them, 'you have to pay your fair share'," he said.
Stepping up financial aid to poorer countries that face the brunt of climate-induced disasters has emerged as a major issue at the 13-day climate conference that began on Sunday.
The heads of developing nations won a small victory when delegates agreed to put the controversial issue of money for "loss and damage" on the agenda.
Nearly 100 heads of state and government will speak at the summit on Monday and Tuesday, but China's President Xi Jinping is not attending the conference and US President Joe Biden will come later this week following Tuesday's US midterm elections.
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