European Commission and Member States and 26 partners have launched “The Coalition of Trade Ministers on Climate” to address climate issues
The European Commission, Member States and 26 partner countries will today, i.e., Thursday, January 19, 2023, launch “The Coalition of Trade Ministers on Climate”, the first Ministerial-level global forum dedicated to trade and climate and sustainable development issues.
The Coalition will foster global action to promote trade policies that can help address climate change through local and global initiatives. The Coalition aims to build partnerships between trade and climate communities to identify the ways in which trade policy can contribute to addressing climate change.
It will promote trade and investment in goods, services and technologies that help mitigate and adapt to climate change. It will identify ways in which trade policies can support the most vulnerable developing and least developed countries that face the greatest risks from climate change.
Speaking on the occasion, Executive Vice-President for an Economy that works for people, also Trade Commissioner – Valdis Dombrovskis said, “The climate crisis is an unprecedented challenge which requires a global response. Trade can help in finding solutions to achieve mitigation and adaptation to climate change, for instance by spreading access to the right technologies and investments.”
He further said, “Through this Coalition, we will be able to provide high-level leadership and guidance to boost international cooperation and promote trade policies, initiatives and actions towards climate-resilient economies. Time is of the essence to face the devastating impact of climate change on people and economies worldwide.”
This high-level political dialogue will see the participation of Trade Ministers from different regions and income levels. Civil society, business, international organisations and climate and finance communities will participate in the Coalition’s work.
The Coalition, which consists of more than 50 ministers from 27 jurisdictions is open to all interested countries. The 4 co-leads are Ecuador, the European Union (E.U.), Kenya, and New Zealand. The other participants include Angola, Australia, Barbados, Cabo Verde, Canada, Colombia, Costa Rica, Iceland, Gambia, Japan (Foreign Affairs & Trade), Republic of Korea, Maldives, Mozambique, Norway, Philippines, Rwanda, Zambia, Singapore, Switzerland, Ukraine, United Kingdom, United States (U.S.) and Vanuatu.
The Coalition will provide political guidance and identify trade-related strategies to adapt to changing climate conditions and extreme weather, for instance through the production, diffusion, accessibility and uptake of climate-friendly technologies. It will focus on finding trade-related solutions to the climate crisis in line with the United Nations Framework Convention on Climate Change (UNFCCC), the Paris Agreement, and the Sustainable Development Goals, whilst supporting ongoing efforts in this area in the World Trade Organization (WTO).
