LONDON, England – Leading trade, climate change, and finance experts convened Thursday for a landmark event organised by the Remaking Trade Project in collaboration with E3G, ODI and the European Climate Foundation. Their mission: address the urgent need to restructure global trade to combat climate change and ensure a just transition to a clean energy future.
The one-day workshop – “Restructuring the International Trade System for Climate Change Progress and a Sustainable Future” – aimed to reconsider and reshape outdated trade policies and transform the global trade system into a powerful force for environmental sustainability and equitable development.
The event also marked the London launch of the Villars Framework for a Sustainable Trade System – an ambitious roadmap to align trade reform with the Paris Agreement and UN Sustainable Development Goals through coordinated cross-cutting and sectoral action. Participants focused on grounding recommendations of the Villars Framework and trade system reform within the UK’s specific political context and identifying actionable steps.
Key discussions centred on:
- Reforming the World Trade Organization (WTO) to align with a net-zero GHG emissions future. This included exploring the practical implementation of the Villars Framework, which outlines concrete steps for the WTO to embrace sustainability goals.
- Designing fair and effective Border Adjustment Mechanisms that incentivise decarbonisation while ensuring fairness for developing countries.
- Rethinking WTO subsidy rules and industrial policies to support a just transition towards a green economy.
- Unlocking the potential of trade finance to accelerate climate change action and support developing countries.
The workshop concluded with a clear call for action, urging policymakers, businesses, and civil society to work together to build momentum on reforming the global trade system. “This is a defining moment,” emphasised a participant. “Our ability to create a sustainable and just future depends on our collective action now.”
- The Remaking Trade Project is a collaborative initiative by Yale Center for Environmental Law and Policy, The Fletcher School of Law and Diplomacy at Tufts University, and the Shridath Ramphal Centre at the University of the West Indies, working to build a fairer and more sustainable global trade system.
- ODI, formerly the Overseas Development Institute, is a leading global affairs think tank working to inspire people to act on injustice and inequality. Deep insight and actionable ideas to help solve the world’s most pressing challenges.
- E3G is a leading independent climate change think tank with a global outlook working on the frontier of the climate landscape, tackling the barriers and advancing the solutions to a safe climate.
