Trade and Climate Change: State of Play

by | Jul 12, 2022 | NZIBF, Reports & Publications

Remove

TRADE AND CLIMATE CHANGE: STATE OF PLAY. A discussion paper prepared for the NZIBF by Adrian Macey, June 2022.

Download here.

Update: NZ-EU FTA

The NZ-EU FTA has been finalised.  Article X.6 of the  trade and sustainable development chapter is on trade and climate change.

New Zealand and the EU are committed to “effectively implement the UNFCCC and the Paris Agreement, including commitments with regard to Nationally Determined Contributions.”  It should be noted that the contents of NDCs such as targets are not binding, so legally they are not ‘commitments’, and this language does not change their status.

A late addition by the EU creates a broad obligation “to refrain from any action or omission which materially defeats the object and purpose of the Paris Agreement.”

While in theory this could lead all the way to dispute settlement, it is better understood as political language, to reassure EU domestic interests that there is recourse against ‘free riding’ by a trading partner. It will work in the other direction too of course. The language is so vague it’s impossible to imagine it being invoked successfully except in a case of a flagrant breach of the Paris Agreement, affecting competition, such as the complete abandonment of domestic emissions reduction measures or carbon pricing.

TRADE-AND-CLIMATE-CHANGE-2022-23.61-1

REGISTER WITH TRADE WORKS

Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.

Latest News

Remarks to ASEAN Business Council Webinar, 26 April 2023

REMARKS TO ASEAN NZ BUSINESS COUNCIL WEBINAR, 26 APRIL 2023 STEPHEN JACOBI, EXECUTIVE DIRECTOR WHEN ELEPHANTS FIGHT - US/CHINA TENSIONS AND IMPLICATIONS FOR ASEAN It’s great to join this webinar with my good friend Siah Hwee Ang. Thanks to the ASEAN NZ Business...

AMIDST THE STORM: ABAC MEETS IN AUCKLAND

Perhaps a cyclone was after all a fitting backdrop for the meeting of the APEC Business Advisory Council (ABAC) which was held in Auckland on 12-14 February – the global environment against which the meeting took place is decidedly stormy.  In the event the wind...

A YEAR FOR RECONNECTING

As I write this end of year dispatch, NZIBF is preparing to host the first meeting for 2023 of the APEC Business Advisory Council (ABAC).  We are looking forward to welcoming the 200 or so business leaders and senior officials from APEC member economies across the...

NZ Herald: Time to lift our game in India

Following his recent visit to India our Executive Director Stephen Jacobi penned this article advocating a more strategic approach to the further development of the relationship. The article was published by the NZ Herald on 9 December.