Trade has the chance to be an accelerator for positive change, writes the European Commission’s director-general for trade
WHEN I WAS a visiting student at Cambridge, my way to class led along the banks of the River Cam. Every morning fellow students rowed in eights, fours or pairs. I have never been a rower, yet I have always been fascinated by it. The boats are light but can carry a lot of weight. An eight-person shell can hold more than 1,000kg, although it weighs less than 100kg itself.
This environment presents opportunities and dangers. Trade, now in the spotlight, has the chance to be an accelerator for positive change. The danger is that when a single policy instrument is called on to accomplish several policy objectives, it faces difficult trade-offs and eventually shows its limitations. Thinking of trade as rowing boats, it feels as if trade policy now has to carry a much heavier load while navigating rougher waters.
The EU is also making the respect of the Paris Agreement an essential element of future bilateral trade deals. These deals matter for sustainability because they are a platform for dialogue to bring change on the ground. Yet for that to happen, the agreements cannot just be negotiated; they need to be ratified and implemented.
Consider the EU emission trading system and CBAM. These policies, along with other measures in the European Green Deal, can ensure that the EU is on track to achieve a 55% emissions cut by 2030 from the level in 1990, and climate neutrality by 2050. But the EU accounts for only 9% of global carbon emissions. To meet the target of limiting global warming to 1.5°C above pre-industrial levels, the biggest carbon emitters, notably America and China, need to follow the same path.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Queen Elizabeth Is “Irritated” with World Leaders Who Won't Take Action on Climate ChangeQueen Elizabeth made a rare public critique of the world leaders she feels aren't taking enough action against the dangers of climate change.
Read more »
From inventing ocean-cleaning ships to calling on businesses to change, U.S. teens are tackling climate changeFrom inventing ocean-cleaning ships to calling on businesses to change, U.S. teens are tackling climate change investinyou (In partnership with acorns.)
Read more »
Review: The global warning opera 'Sun & Sea' is justifiably the hottest ticket in townMOCA's Geffen Contemporary has been turned into a singing beach for the sold-out climate-change opera 'Sun & Sea,' which proves amazing.
Read more »
Prince William Is Transforming Into a Climate Change InfluencerPrince William—set to announce the winner of the inaugural Earthshot Prize on Sunday—said that he hopes the £1 million award will promote optimism about the environment.
Read more »
Queen Elizabeth: Lack of action on climate change is 'irritating'Two weeks before the United Kingdom is set to host the U.N. climate conference in Glasgow, Scotland, Queen Elizabeth II was heard venting over the lack of coordinated action being taken to address global warming, calling it 'irritating.'
Read more »