In the World Trade Organization (WTO), proposals are discussed so that trade policies such as tariffs and regulations on subsidies and free trade zones take into account the environmental issue.. There are several channels of action on this issue, among them the Structured Discussion Board on Trade, Environment and Sustainability (Tisd For its English abbreviation) it consists of 53 states and a Climate Club led by New Zealand with Costa Rica, Fiji, Iceland, Norway and Switzerland. The upcoming World Trade Organization summit later this year will bolster these groups as support from the Joe Biden administration is expected to upset the balance.
The environmental issue aims at Print changes to the global institutional framework. The International Monetary Fund is stressing this issue, with a growing series of documents, statements and promises. So far, the strongest is a suggestion Financing with the World Bank so that countries’ policies in combating climate change have a positive impact on easing their foreign debt.. For countries with little room to issue debt, financing green growth requires guarantees and loans that can be increased thanks to debt relief or reclassification. If these issues are not taken into consideration together, both macroeconomic weakness and climate change pose systemic risks to the global economy, ”says the joint document that will be formally presented at the upcoming UN Climate Summit in November this year.
Another great global institution The World Trade Organization, where initiatives linking trade with the environmental issue are deliberated. The Structured Discussion Board on Trade, Environment and Sustainability is highlighted (Tisd It was created last November by 53 members of the World Trade Organization including the European Union, Australia, Canada, Chile, Costa Rica, Japan, South Korea, Mexico, New Zealand, Norway, Switzerland and the United Kingdom. The group met last month and began discussing this year’s World Trade Organization summitLiberalizing trade in goods and services related to the environment, such as everything related to renewable energies. Decarbonizing value chains and the circular economy are also in the pipeline.
Countries that bear this obligation can facilitate trade in recyclable goods and vice versa, and penalize non-recyclable goods, as well as raise tariffs on origin for goods and services that do not have obligations to reduce carbon emissions or liberalize trade associated with green technologies, They explain from the WTO.
In the organism they see it In the medium term, the Climate Club approach may have an impact.Countries that agree on a set of rules to facilitate trade in environment-related goods and services. Along these lines is the Agreement on Climate Change, Trade and Sustainability (ACCTS), which is a “club” made up of New Zealand, Costa Rica, Fiji, Iceland, Norway and Switzerland.
Countries ACCTS strives to move forward for “removing tariffs on environmental goods and services, which means they will be cheaper in our countries, and to accelerate integrations into economies”. Second, they want to put controls in place to eliminate fossil fuel subsidies – such as the gas plan in place in Argentina until 2024. They noted that “the use of trade rules on fossil fuel subsidies is required in the WTO, just as they are in the case of subsidies for industrial goods and agriculture.” Finally, they strive to boost the application of green markers.
On the other hand, there is an initiative in the WTO led by China toRenewal of the entry of plastic and electronic waste into that countryThat caused problems for other destinations like the Philippines, Vietnam and Malaysia. Ultimately, it’s a position that goes against the United States and Canada, which are the two main sources of this waste.