22 September 2021
The urgency of the climate crisis requires greater focus on how international trade and investment policy can support climate action. International trade is estimated to account for 20-38% of global emissions but, until recently, there have been limited efforts to harness trade policy to achieve climate objectives. As businesses increasingly pursue their own net zero targets, the upcoming COP26 meeting in November 2021 and WTO Ministerial in December 2021 provide opportunities for governments to accelerate these efforts through mutually supportive trade and climate policies.
To better understand how trade policy can support businesses to reduce emissions, Clifford Chance, in collaboration with the World Economic Forum (WEF), interviewed over 30 global companies about their trade and climate strategies. The resulting white paper, 'Delivering a climate trade agenda: Industry insights', brings together industry perspectives on trade policy priorities, as well as offering eight recommendations for climate-focused trade policy that is fair, transparent, and has technology and innovation at its core.
The report identifies numerous ways in which businesses can prepare for, and support, recommended climate-trade initiatives.