As one of the novelties of the 28th United Nations Climate Change Conference (COP28), meeting in this capital until December 12, the event highlighted the role of the exchange of goods and services and how trade policies can stimulate and accelerate this transition to clean energy .
The World Trade Organization (WTO) took the initiative together with the United Arab Emirates in collaboration with the United Nations Conference on Trade and Development, the International Chambers of Commerce and the World Economic Forum.
On the trading day, discussions focused on mechanisms to improve a policy roadmap for fair and ambitious responses to climate change through trade.
WTO Director-General Ngozi Okonjo-Iweala pointed out that all weapons are needed to combat the climate crisis and that trade is about people. It is a tool to improve their lives and livelihoods, he emphasized.
He believed that this activity can also contribute to greater emissions reductions.
Other activities included the event titled “Sustainable Trade in Africa” where speakers discussed various key issues and opportunities with key sectors such as agriculture, financial investment, green logistics and transport, and clean energy.
The Emirati Minister of State for Foreign Trade, Thani Ahmed Al Zeyoudi, emphasized in his speech that this is the first time that trade has been included in the official program of a conference of the parties.
Al Zeyoudi stressed that Africa is increasingly playing a crucial role in trade and sustainability in various areas, including renewable energy, from hydropower to hydrogen.
According to the organizers, in recent years there has been a significant change in modern concepts of world trade, with the modality of this activity in a sustainable way becoming increasingly important given the growing awareness of environmental protection and mitigation of climate change. Sustainable trade refers to trade that takes into account environmental and social standards and operates in an environment that minimizes negative environmental and social impacts while promoting development.
It can help reduce carbon emissions, conserve natural resources and promote economic and social development, especially in developing countries.
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