Sustainability takes center stage Innew trade era

How can moving boxes back and forth, between countries and across Oceans and mountains, help protect the environment and fight climate change?

- IRIS GONZALES

The European Union believes that indeed, trade can address the growing problem of climate change and other challenges in this era of multiple crises.

Thus, in today's world, globalization is taking a new shape and direction and the EU is leading the change.

In a meeting in Brussels with journalists from third countries last March, a top EU official discussed the EU's new "open, sustainable and assertive trade policy directions" which aim to address, among others, economic recovery post-COVID-19, climate change and environmental degradation and growing international tensions.

Societal transformation

Essentially, the EU's trade policy aims to "attain broader objectives such as the fight against climate change and the protection of the environment," says Valdis Dombrovskis, executive vice president of the European Commission and EU trade commissioner.

"Finding the right balance between building a more sustainable future and transitioning to greener practices is a journey we're all on together. It's not just about meeting climate or sustainability goals; it's about making sure our path to progress benefits us all," he said.

Thus, he said, in order to meet common climate objectives, the EU is focused on "societal transformation" that will fundamentally impact all economic activities and require actions across policies, including trade policies.