Trade to Play Key Role at UN Climate Change Conference (COP28)
The 2023 UN Climate Change Conference (COP28) will mark a historic moment as trade is officially integrated into the climate agenda for the first time, highlighting the crucial role of trade in addressing climate change.
First-Ever Trade House Pavilion to Showcase Trade-Led Solutions
Four international organizations – the International Chamber of Commerce (ICC), the International Trade Centre (ITC), the United Nations Conference on Trade and Development (UNCTAD), and the World Trade Organization (WTO) – will co-host the first-ever Trade House pavilion at COP28. The pavilion will showcase proven, scalable trade-led solutions to accelerate the transition to a low-carbon economy, leaving no one behind.
International Organization Leaders Stress Importance of Trade in Addressing Climate Change
ITC Executive Director Pamela Coke-Hamilton emphasized that a low-carbon transition must be just and inclusive, with small businesses driving the change, especially those led by women, young people, Indigenous Peoples, and members of marginalized groups. WTO Director-General Ngozi Okonjo-Iweala noted that trade is part of the solution to the climate crisis, and UNCTAD Secretary-General Rebeca Grynspan stressed that climate and trade policies must work together. ICC Secretary-General John W.H. Denton AO highlighted the importance of effective policy frameworks and strengthened supply chains in combating climate change.
Focusing on Small Businesses
At the Trade House, ITC will highlight the crucial role of small businesses of developing countries, especially those led by women, young people, Indigenous Peoples, and members of marginalized groups, in driving lasting change. Small businesses make up 90% of all companies and two-thirds of jobs worldwide, yet their perspectives are often not included in policymaking.
Challenges Facing Small Businesses
Small businesses know they need to make the low-carbon transition – and are willing to do so – but many are currently unable to act due to a lack of information, skills, technology, and financing. Currently, only 1.7% of climate finance goes to small-scale farmers in developing countries, although they are among the most vulnerable.
ITC Solutions
ITC works with developing countries to help them understand and respond to emerging environmental regulations, while also bringing their perspectives to decision-making tables, such as the COP. ITC will bring a delegation of small businesses and business support organizations to share their scalable solutions and best practices with COP28 negotiators and participants.
Conclusion
The integration of trade into the climate agenda at COP28 is a significant step towards addressing the drivers and impact of climate change. The Trade House pavilion will provide a platform for international organizations, businesses, and governments to explore trade-led solutions to accelerate the transition to a low-carbon economy, leaving no one behind.
FAQs
Q: What is the significance of integrating trade into the climate agenda at COP28?
A: The integration of trade into the climate agenda at COP28 highlights the crucial role of trade in addressing the drivers and impact of climate change.
Q: What is the Trade House pavilion?
A: The Trade House pavilion is the first-ever pavilion to showcase trade-led solutions to accelerate the transition to a low-carbon economy, leaving no one behind.
Q: How will small businesses be involved at the Trade House?
A: ITC will highlight the crucial role of small businesses of developing countries, especially those led by women, young people, Indigenous Peoples, and members of marginalized groups, in driving lasting change, and will bring a delegation of small businesses and business support organizations to share their scalable solutions and best practices with COP28 negotiators and participants.