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WTO urges to use trade to fight off climate change

Sharm El-Sheikh, Egypt, Nov 8 (Prensa Latina) The Director-General of the World Trade Organization (WTO) Ngozi Okonjo-Iweala on Tuesday assured the world cannot leave trade and WTO behind to fight climate change.

During her WTO World Trade Report presentation, within the framework of the UN Framework of Climate Change Convention (COP27), Okonjo-Iweala commented that an effective strategy against global warming cannot work without taking into account the role of trade, while warning of how problematic would be the absence of trade and trade policies in the nationally determined contributions and adaptation plans of each country.

“The reason we are here, to launch this report, is because we want to make that point clear and provide specific recommendations and some actions that nations can take and include in their plans,” she stated.

She also praised the significant financing role and urged rich nations to meet their commitment to jointly provide $100 billion a year to support climate actions in developing countries.

Among actions suggested are to abolish trade barriers in environmental goods and services in order to help fight climate change, improve cooperation on carbon measurement and to transform WTO’s Aid for Trade initiative into an investment program.


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