THE World Trade Organization (WTO) said countries vulnerable to climate change can tap trade to access the necessary technology and services, in the process boosting the flow of goods needed for the clean-energy transition. READ
In its World Trade Report 2022 issued on Monday, the WTO also found that gross domestic product losses are expected to be higher in regions vulnerable to weather-related hazards and with lower resilience to losses, such as the Middle East, North Africa, South and Southeast Asia, and Sub-Saharan Africa.
“Higher temperatures, rising sea levels and more frequent extreme weather events bring the prospect of productivity losses, production shortages, damaged transport infrastructure, and supply disruptions,” it added.
“WTO simulation analysis suggests that eliminating tariffs and reducing non-tariff measures on some energy-related environmental goods and environmentally preferable products could increase global exports in these products by $109 billion and $10.3 billion , respectively, by 2030,” the WTO said. The report also projected that the transition to clean energy could create around 30 million new jobs for clean energy and related sectors by 2030.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WTO urges countries to lift green trade barriersThe World Trade Organization on Monday urged countries to abolish trade barriers in environmental goods and services in order to help fight climate change.
Read more »
Carlos Yulo finishes silver in vault at world championshipsICYMI: Carlos Yulo fell short of defending his title in vault after settling for the silver medal in the 51st FIG Artistic Gymnastics World Championships in Liverpool, England Sunday, Nov. 6.
Read more »
World population at 8 billion humans, and growingUNITED NATIONS: The United Nations estimates that the global human population will reach eight billion by mid-November, and will continue to grow, albeit at a slower pace and with regional disparities, in the decades to come.
Read more »
Astros defeat Phillies to win second World Series crownYordan Alvarez smashed a three-run homer and the Houston Astros captured their second World Series in six seasons on Saturday, Nov. 5, with a 4-1 victory over Philadelphia.
Read more »
Messi on World Cup mission in 'Last Dance' for ArgentinaLionel Messi has won nearly 40 trophies for club and country in an illustrious career but the Argentine forward’s glittering resume has one major omission – a World Cup winner’s medal.
Read more »