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Why Is There a Need to Delink International Trading Rules From Climate Goals? -Rashmi Banga

-TheWire.in

National trade policies can play a complementary role but international trading rules that are being proposed to the WTO can constrain developing countries’ progress towards environmentally sustainable growth.

As leaders proceed to Glasgow for COP26, the paramount issue remains how the world commits to a reduction in greenhouse gases. Climate adaptation will be an urgent agenda for developing countries. But to achieve their environmental goals developing countries need access to affordable green technologies, additional financial resources and capacity building.

National trade policies can play a complementary role but international trading rules that are being proposed to the World Trade Organisation (WTO) can constrain developing countries’ progress towards environmentally sustainable growth.

While greenhouse gases are rapidly rising, carbon emissions in traded goods and services comprise only 27% of global carbon emissions, indicating that the scope of international trade policy, particularly the international trading rules, in achieving global green growth is limited, argues UNCTAD’s recently launched Trade and Development Report.

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