Trade, climate and finance: breaking the silos to drive ambitious, inclusive action

A coalition of 60 trade ministers asserts that the global trading system must move beyond "business as usual" to support the Paris Agreement. They advocate for breaking silos between trade, finance, and environment ministries to catalyze investment in clean energy, support climate-vulnerable nations, and reform the global financial system to promote net-zero trade finance and sustainable supply chains.

• The current global trading system is insufficient to meet Paris Agreement climate goals, requiring a transformation of production, consumption, transport, investment, trade, and finance to shift away from carbon-intensive goods and high-emissions logistics.
• A coalition of 60 trade ministers is prioritizing cross-ministerial cooperation with climate, finance, and development counterparts to identify collective action for sustainable trade, including hosting a ministerial roundtable in Davos.
• Climate-vulnerable regions, specifically least developed countries and small island developing states, face severe impacts on agriculture and fisheries and require increased investment in economic recovery and resilience.
• Trade can act as an enabler for climate action by spurring investment in the diffusion of green goods and services, promoting net-zero sustainable trade finance through export credit agencies, and accelerating renewable energy access.
• The coalition seeks to align trade and fiscal policies, specifically regarding carbon measurement and pricing mechanisms, to maximize climate benefits while minimizing trade distortions.

APA

Garcia, S., Dombrovskis, V., Miano, R., Monteiro, A., Symmonds, K., Svyrydenko, Y., Kamikamica, M., Pascual, A., Eide, E. B., & Saeed, M. (2024). Trade, climate and finance: breaking the silos to drive ambitious, inclusive action. Forum on Trade, Environment, & the SDGs. https://tessforum.org/latest/trade-climate-and-finance-breaking-the-silos-to-drive-ambitious-inclusive-action

Chicago

Garcia, Sonsoles, Valdis Dombrovskis, Rebecca Miano, Alexandre Monteiro, Kerrie Symmonds, Yuliia Svyrydenko, Manoa Kamikamica, et al. Trade, climate and finance: breaking the silos to drive ambitious, inclusive action. Forum on Trade, Environment, & the SDGs, 2024. https://tessforum.org/latest/trade-climate-and-finance-breaking-the-silos-to-drive-ambitious-inclusive-action.

Wikipedia

{{cite press release |last1=Garcia |first1=Sonsoles |last2=Dombrovskis |first2=Valdis |last3=Miano |first3=Rebecca |last4=Monteiro |first4=Alexandre |last5=Symmonds |first5=Kerrie |last6=Svyrydenko |first6=Yuliia |last7=Kamikamica |first7=Manoa |last8=Pascual |first8=Alfredo |last9=Eide |first9=Espen Barth |display-authors=etal |title=Trade, climate and finance: breaking the silos to drive ambitious, inclusive action |publisher=Forum on Trade, Environment, & the SDGs |date=18 January 2024 |url=https://tessforum.org/latest/trade-climate-and-finance-breaking-the-silos-to-drive-ambitious-inclusive-action |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{garcia2024trade, author = {Garcia, Sonsoles and Dombrovskis, Valdis and Miano, Rebecca and Monteiro, Alexandre and Symmonds, Kerrie and Svyrydenko, Yuliia and Kamikamica, Manoa and Pascual, Alfredo and Eide, Espen Barth and Saeed, Mohamed}, title = {{Trade, climate and finance: breaking the silos to drive ambitious, inclusive action}}, publisher = {Forum on Trade, Environment, \& the SDGs}, year = {2024}, month = jan, url = {https://tessforum.org/latest/trade-climate-and-finance-breaking-the-silos-to-drive-ambitious-inclusive-action}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }