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COP28December 7 2023

How trade and trade finance can assist the transition to net zero

In the first trade day to be held at COP, trade leaders from the ICC, WTO, Unctad and the ITC came together to highlight the role trade and trade finance can play in the transition to a lower-carbon future.
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How trade and trade finance can assist the transition to net zeroNgozi Okonjo-Iweala, director-general of the World Trade Organization, speaks at COP28. Image: Getty Images

Trade is often seen as the problem not the solution when it comes to climate change. But at COP28 this year in Dubai, where trade is featured as a specific theme for the first time, leading trade organisations outlined how trade can work for a net zero transition.

World Trade Organization (WTO) director-general Dr Ngozi Okonjo-Iweala used the occasion of COP to unveil a 10-point set of “Trade Policy Tools for Climate Action”, as well as principles for helping the steel industry decarbonise. 

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Anita Hawser is the Europe editor at The Banker. For the past 20 years, Anita has worked as a freelance journalist for a range of banking, finance and tech titles covering topics such as cybersecurity, financial crime, cryptocurrencies, payments, trade and supply chain finance. Before joining The Banker, Anita was Europe editor at Global Finance.
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