The European Commission, in collaboration with EU Member States and 26 partner countries, is preparing to launch “The Coalition of Trade Ministers on Climate,” a groundbreaking global forum. This Ministerial-level initiative, the first of its kind, aims to foster trade policies that effectively combat climate change through local and global endeavors. By uniting the trade and climate communities, the Coalition seeks to explore how trade policy can contribute to the fight against climate change while promoting investment in climate-friendly goods, services, and technologies.
The inauguration of “The Coalition of Trade Ministers on Climate” represents a significant milestone as the European Commission, EU Member States, and 26 partner countries join forces to establish a global forum dedicated to the intersection of trade, climate, and sustainable development. The primary objective of the Coalition is to encourage collective action on a global scale by advocating for trade policies that effectively address climate change through local and global initiatives.
The Coalition’s main focus is to foster collaboration between the trade and climate communities to identify how trade policy can contribute to combating climate change. It aims to promote trade and investment in goods, services, and technologies that facilitate both mitigation and adaptation to the effects of climate change.
A crucial aspect of the Coalition’s agenda is prioritizing the needs of vulnerable developing countries and least developed nations, which bear a disproportionate burden of climate change risks. By addressing these concerns, the Coalition aims to provide support and assistance to these countries through targeted trade policies.
The Coalition’s work will involve high-level political dialogues, bringing together Trade Ministers from various regions and income levels. Representatives from civil society, businesses, international organizations, as well as climate and finance communities, will actively participate in shaping the Coalition’s initiatives.
The Coalition welcomes the participation of interested countries and currently includes over 50 ministers from 27 jurisdictions. Ecuador, the EU, Kenya, and New Zealand jointly lead the Coalition, with a diverse group of participating countries including Angola, Australia, Barbados, Cabo Verde, Canada, Colombia, Costa Rica, Iceland, Gambia, Japan (Foreign Affairs & Trade), Republic of Korea, Switzerland, Maldives, Mozambique, Zambia, Singapore, Ukraine, Norway, Philippines, Rwanda, United Kingdom, United States, and Vanuatu.
Through the Coalition, political guidance will be provided, and trade-related strategies will be identified to adapt to changing climate conditions and extreme weather events. This includes activities such as the production, dissemination, accessibility, and adoption of climate-friendly technologies. The Coalition’s efforts align with the United Nations Framework Convention on Climate Change (UNFCCC), the Paris Agreement, and the Sustainable Development Goals, while supporting ongoing initiatives in the World Trade Organization (WTO) in this domain.
Looking ahead, the next Ministerial meeting is scheduled to take place alongside the upcoming WTO Ministerial Conference in early 2024.
Background: The Climate Coalition was officially established on January 19, 2022, during the World Economic Forum Annual Meeting in Davos. The primary objective of this coalition is to investigate the valuable contributions that trade and trade policy can make in tackling the ongoing climate crisis. Serving as a platform for significant political discussions, the Coalition is dedicated to fostering international cooperation on climate, trade, and sustainable development.
Source: European Commission