UAE to Put Trade on COP28 Agenda as Australia Joins Climate Club
The UAE intends to introduce a special focus on trade at COP28, as countries are increasingly using trade to pursue their climate and growth objectives. The decision comes as Australia decides to join the G7’s Climate Club, a group that may increasingly see trade used to disadvantage countries with unambitious targets.
SA calls CBAM “Policy Coercive” and LDCs call them “Beggar Thy Neighbour” Instruments
The South Africa government has called the EU’s CBAM “policy coercive” and a threat to a “delicate national consensus”, as it imposes climate mitigation policy onto developing countries and hinders the country’s independence to create policy in this space.
WTO Review of EU Trade Policies highlights significant unease about CBAM
The EU’s CBAM and its other green policies came under fire during the EU’s 15th Trade Policy Review at the WTO. China said it would unfairly penalise developing countries, and Russia complained it would fundamentally challenge the structure of global goods flows and the state of competition.
Kenya to join Global Climate Club. Quo Vadis the Glasgow Mitigation Work Programme?
Kenya intends to join a Climate Club that aims to enhance mitigation ambition through trade cooperation and possibly industrial sector targets. What does this mean for the Mitigation Work Programme?
EU Deforestation Rules to Affect Côte d’Ivoire and Ghana
A landmark EU deforestation law stands to significantly affect coco exports from Côte d’Ivoire and Ghana
DG at the WTO Announces Intention To Pursue Carbon Pricing Mechanism Framework in response to CBAM
A WTO Director-General, has reportedly sent an unapproved proposal to members on the development of a global carbon pricing framework in the context of the CBAM.
Corporates Embrace US Subsidies as IMF Cautions Against Climate Protectionism
Energy companies are loving the US’s Inflation Reduction Act that seeks to shore up green technologies and supply chains through various financial incentives and the EU is taking its own measures to respond. However, the head of the IMF has cautioned that these moves may come at a cost to developing countries who have limited capacities to compete.
EU’s Carbon Border Adjustment Mechanism Could Reduce African GDP by 0.91%
Early analyses indicate that the CBAM will negatively affect developing countries more than developed ones, and that the impact on African exports may be considerable in some sectors
Coalition of Trade Ministers on Climate is Launched, While EU Pursues Climate Protectionism
As trade and climate become increasingly prominent on the global agenda, the newly established Coalition of Trade Ministers could play a foundational role in breaking down siloes between the international trade and climate communities, as well as bridging developed and developing country interests.
