DUBAI / COP28 TRADE FOR CLIMATE ACTION

04-Dec-2023 00:04:10
The head of the World Trade Organization, Ngozi Okonjo-Iweala, said at the COP28 in Dubai, “What we need to do is to re-imagine globalization.” UNIFEED
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STORY: DUBAI / COP28 TRADE FOR CLIMATE ACTION
TRT: 04:10
SOURCE: UNIFEED
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 04 DECEMBER 2023, DUBAI, UNITED ARAB EMIRATES
SHOTLIST
1. Wide shot, COP28 venue
2. Wide shot, Al Waha Theatre
3. SOUNDBITE (English) Ngozi Okonjo-Iweala, World Trade Organization (WTO):
“The fact is we cannot get to net zero without trade because it is indispensable for spreading low-carbon technology to everywhere. It is needed. And I've always said: trade is about people, a tool for improving their lives and their livelihoods and for promoting sustainable development.”
4. Wide shot, WTO Director General at podium
5. SOUNDBITE (English) Ngozi Okonjo-Iweala, Director General, World Trade Organization (WTO):
“We hope this thematic day will inspire leaders to make fuller use of trade as part of the Climate Action Toolkit.”
6. Med shot, participants
7. SOUNDBITE (English) Ngozi Okonjo-Iweala, Director General, World Trade Organization (WTO):
“Trade, as part of globalization, has lifted more than a billion people out of poverty. It has also been deflationary. The reason why goods have been cheaper in many, let’s say in the developed countries, for instance, is due to trade and the globalized supply chains. But that aspect of the story doesn't come up.”
8. Med shot, participants
9. SOUNDBITE (English) Ngozi Okonjo-Iweala, Director General, World Trade Organization (WTO):
“So, there are places where, you know, people are being left behind. There are countries that didn't benefit also in the developing world as much as they should. So, what are we saying now? We are saying don't throw the baby out with the bath water. Let us do the analysis properly. What we need to do is to re-imagine globalization.”
10. Med shot, participants
11. SOUNDBITE (English) Ngozi Okonjo-Iweala, Director General, World Trade Organization (WTO):
“We want a globalization that will include those who are left out at the margin, a more inclusive globalization.”
12. Med shot, participants
13. SOUNDBITE (English) Dr. Ngozi Okonjo-Iweala, Director General, World Trade Organization (WTO):
“We are advocating that, yes, there will be some reshoring of supply chains, but let us look at building resilience by including many more countries who were at the margins of the global value chains before. So, we can kill two birds with one stone.”
14. Med shot, participants
15. SOUNDBITE (English) Dr. Ngozi Okonjo-Iweala, Director General, World Trade Organization (WTO):
“We have too many global problems to solve, and trade must be part of the solution. And I know that you know, trade, trade ministers, of course, like to do trade deals in their negotiations. But this is a time in the world where we must show that trade, and the WTO are a full part of the solution to global problems. So, we have no choice but to deliver.”
16. Wide shot, Al Waha Theatre
17. Med shot, panelists
18. SOUNDBITE (English) Rebeca Grynspan, Secretary-general, United Nations Conference on Trade and Development (UNCTAD):
“This is the new name of the game. We want to start trading critical minerals and going through the renewable value chain and stop doing fuel and carbon for trade. Yes, that's part of getting more sustainable.”
19. Wide shot, panelists
20. SOUNDBITE (English) Rebeca Grynspan, Secretary-general, United Nations Conference on Trade and Development (UNCTAD):
“We need good contracts for the extractives. We need the way in which we will extract the critical minerals to be sustainable. And that's a challenge, and that needs transparency in the contract of negotiations, but at the same time, the possibility to have the sustainable and environmental regulations for it, and the countries need help to do this.”
21. Wide shot, panelists
22. SOUNDBITE (English) Selwin Charles Hart, Special Adviser to the Secretary-General on Climate Action and Just Transition, United Nations:
“We need to address both demand and supply. And this is where governments need to come in. And no one is saying that fossil fuels will disappear tomorrow. But for this transition to be manageable, well managed and orderly for it also to be fair and equitable, it requires governments, and it also requires the industry as well to act in good faith.”
23. Wide shot, Al Waha Theatre
STORYLINE
The head of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, said today (4 Dec) at the COP28 in Dubai, “What we need to do is to re-imagine globalization.”

Addressing the first-ever thematic day on trade at a United Nations Climate Change Conference, Ngozi Okonjo-Iweala spoke about trade policy options as part of a just and ambitious global response to climate change.

Okonjo-Iweala said, “The fact is we cannot get to net zero without trade because it is indispensable for spreading low-carbon technology everywhere. It is needed. And I've always said: trade is about people, a tool for improving their lives and their livelihoods and for promoting sustainable development.”

The event aimed to inspire other governments to consider how such measures could be integrated into their national policies and accelerate the transition to a climate-friendly global economy.

WTO Director General said, “We hope this thematic day will inspire leaders to make fuller use of trade as part of the Climate Action Toolkit.”

The event also presented concrete trade policy actions and initiatives that can foster sustainable practices and contribute to global efforts in combating climate change.

Ngozi Okonjo-Iweala said, “Trade, as part of globalization, has lifted more than a billion people out of poverty. It has also been deflationary. The reason why goods have been cheaper in many, let’s say in the developed countries, for instance, is due to trade and the globalized supply chains. But that aspect of the story doesn't come up.”

She continued, “So, there are places where, you know, people are being left behind. There are countries that didn't benefit also in the developing world as much as they should. So, what are we saying now? We are saying don't throw the baby out with the bath water. Let us do the analysis properly.”

She stated, “We want a globalization that will include those who are left out at the margin, a more inclusive globalization.”

She explained, “We are advocating that, yes, there will be some reshoring of supply chains, but let us look at building resilience by including many more countries who were at the margins of the global value chains before. So, we can kill two birds with one stone.”

She concluded, “We have too many global problems to solve, and trade must be part of the solution. And I know that you know, trade, trade ministers, of course, like to do trade deals in their negotiations. But this is a time in the world where we must show that trade, and the WTO are a full part of the solution to global problems. So, we have no choice but to deliver.”

The WTO Secretariat recently (2 Dec) launched at COP28 a 10-point set of “Trade Policy Tools for Climate Action” to present governments with a toolkit to draw from in their efforts to meet global climate targets.

The new publication explores how integrating trade policy options, such as reviewing import tariffs on low-carbon solutions, into national strategies can help economies mitigate the effects of climate change and adapt to its consequences.

Addressing a panel later today on critical minerals, the energy transition, and the role of trade, Rebeca Grynspan, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), said, “This is the new name of the game. We want to start trading critical minerals and going through the renewable value chain and stop doing fuel and carbon for trade. Yes, that's part of getting more sustainable.”

The session addressed how trade policy and the multilateral system can facilitate an enabling international trade and investment environment that will help to secure energy transition-related value chains while increasing mineral-rich countries' benefits by fostering 'on-site' value addition and, thereby creating socio-economic development opportunities.

Grynspan stated, “We need good contracts for the extractives. We need the way in which we will extract the critical minerals to be sustainable. And that's a challenge, and that needs transparency in the contract of negotiations, but at the same time, the possibility to have the sustainable and environmental regulations for it and the countries need help to do this.”

Also addressing the panel, Selwin Charles Hart, Special Adviser to the Secretary-General on Climate Action and Just Transition, said, “We need to address both demand and supply. And this is where governments need to come in. And no one is saying that fossil fuels will disappear tomorrow. But for this transition to be manageable, well managed and orderly for it also to be fair and equitable, it requires governments, and it also requires the industry as well to act in good faith.”
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