“Every day we are seeing the impacts of climate change on economies, rural areas, financial systems, biodiversity and competitiveness,” DG Okonjo-Iweala told the gathering. “I am therefore pleased to welcome you at the WTO and hope we will build together a coalition and bring together greater action on the nexus of trade and climate.”

Pointing to the role of trade and the WTO in addressing climate change while managing trade frictions, she noted that she had long made the case that “trade ministers should find some space to meet and discuss climate issues just as finance ministers do.”⁽¹⁾

The breakfast gathering, which the organizers described as an informal conversation open to wider participation, looked at ways trade and trade policies can support the Paris climate goals, sustainable development, environmental sustainability and a just transition.

Ministers from the four organizers said the coalition would foster trade policies that better support climate action and contribute to climate-related work at the WTO.

Footnote

1. The Coalition of Finance Ministers for Climate Action has worked to catalyse green investment and financing for a just transition since its formal launch in 2019, with a secretariat managed by the World Bank and International Monetary Fund. Back to text