The UK’s Committee on Climate Change, for example, claims that emissions have fallen by 43 per cent since 1990. While true if measured by production within the UK’s borders, this does not account for emissions from UK consumption, including imports. This is where the climate agenda begins to shape trade policy. Vague clauses relating to the environment are already part of the EU’s trade treaties but something much more substantive is now in prospect. France’s President Emmanuel Macron has in recent weeks spoken of the importance of “a border adjustment mechanism” to protect “our companies because of our climate commitments”. A new paper from Think 2030, the platform for scientific policy solutions in Europe, describes what an environmentally oriented trade policy could look like. Given the strength of the Green vote the issue will be high on the agenda of the next European Commission and will shape trade negotiations with the US and others.
FT 24th June 2019 read more »