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WTO's Lamy Presents Overview of Climate Crisis

A global deal is closerthan ever before.

Compiled by staff

Published: Nov 4, 2009

Calling the world climate crisis urgent and a top priority World Trade Organization Director-General Pascal Lamy told an Ottawa, Canada audience that he has heard from climate policy makers that the world has never been closer to a global deal. Both developed and developing countries alike want to tackle climate change, but Lamy warns it is the details of how they do so that remain to be closed. The WTO leader says climate negotiation has his full support. But, part of that support will continue to manifest itself in not reducing the climate agenda to one on trade.

When it comes to cap-and-trade schemes, Lamy believes some have either already introduced, or may introduce, various flexibilities to reduce the compliance pain for their industries. The free allocation of pollution permits is one such example, and could be WTO-related. At the same time, others are contemplating border adjustments of various sorts for the future. These measures may, according to Lamy, take the form of a requirement upon importers to purchase pollution permits at the border, or of carbon tax, to encourage exporters to account for their emissions.

Options of this nature are in European climate directives, and in some of the bills currently being contemplated in the United States with the Waxman-Markey and Boxer-Kerry bills being the most recent. These border measures, according to Lamy, stem from the philosophy that since the Copenhagen Summit may fail, the first-movers on climate change must themselves take action to level the carbon playing field. They must offset the competitive disadvantage that their industry may suffer from enduring the costs of climate mitigation.

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WTO's Lamy Presents Overview of Climate Crisis

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