- Ngozi Okonjo-Iweala called for tripling renewable energy production and doubling energy efficiency by 2030 to meet Paris Agreement goals, emphasising the need for trade policies that support clean energy transition
- Global leaders, including Inger Andersen of UNEP and Francesco La Camera of IRENA, urged reforms to trade tariffs, fossil fuel subsidies, and international standards to accelerate the adoption of renewable energy technologies and combat climate change
- Chile's Ambassador, Sofía Boza, highlighted the potential of the energy transition to diversify economies, increase value-added exports, and promote sustainable development through complementary trade and environmental policies
In a strong push for global sustainability, Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO), emphasised the critical need to significantly increase renewable energy production and improve energy efficiency to meet the Paris Agreement goals by 2030.
Speaking at the fifth edition of Trade and Environment Week in Geneva, which was held from October 7 to October 11, 2024, Okonjo-Iweala highlighted the growing role of trade policies in promoting environmental responsibility and enabling a shift toward clean energy. “We are at a pivotal moment where trade policies have become a powerful catalyst for environmental sustainability and offer a versatile set of tools for people-oriented clean energy transition”, she remarked.
The WTO leader pointed out that rectifying current tariff structures, which tend to favour carbon-heavy goods over renewable technologies, could reduce costs and encourage greater adoption of low-carbon solutions. Additionally, eliminating subsidies for fossil fuels would accelerate innovation and reduce greenhouse gas emissions.
She also advocated for harmonising international standards and certification processes to create a supportive framework for the widespread use of renewable energy.
Other global trade leaders support Okonjo-Iweala’s advocacy
Also, Inger Andersen, Executive Director of the United Nations Environment Programme, delivered a compelling video message, warning of the dangers of rising global temperatures.
In her words, “We know that greenhouse gas emissions must fall, fall fast, and never rise again.”
She further stressed the importance of responsible extraction and use of critical minerals in the clean energy supply chain.
"Underlining the necessity for trade policies that promote responsible mining, protect local communities and ensure that the benefits of these resources are shared across the value chain,” she added.
Celeste Saulo, Secretary-General of the World Meteorological Organization, reinforced this message, calling for climate data to be integrated into all policies related to the green energy shift. Saulo noted that an international, collaborative approach to sharing climate information and advancing clean technology would be key to ensuring the sustainability of renewable energy systems globally.
In her words, “Climate information should be part of every policy related to green energy transition. A coordinated international effort to share climate data, facilitate technology transfer and build climate-resilient infrastructure will be critical to ensure the reliability and sustainability of renewable energy systems worldwide.”
Francesco La Camera, Director-General of the International Renewable Energy Agency, stressed that current efforts are insufficient to meet the world’s climate targets. He called for a revamp of global trade rules, including lowering tariffs on renewable technologies and establishing international standards for environmental goods. "The market is still designed for fossil fuels,” La Camera said, warning that if swift reforms are not made, the world risks missing its key climate objectives.
In his words, “If we don’t rapidly change the way we produce and consume energy, the next two COPs will be the last chance to keep the 1.5°C target alive.”
In addition, Chile’s Ambassador, Sofía Boza, echoed these sentiments, arguing that trade and environmental policies must not only coexist but complement one another to achieve long-term sustainability. In her words, “Trade policies and environmental policies not only can co-exist but must complement each other to achieve our sustainability goals.”
Boza explained the role of trade in facilitating access to essential technologies for clean energy, asserting, “The energy transition offers a significant opportunity to diversify the productive base while creating added value in exports.”
Nigeria spends over N1billion monthly on airport electricity, says Aviation Minister Keyamo
Meanwhile, TheRadar previously reported how Nigeria had been expending more than N1 billion every month on electricity to power its airports as announced by the Minister of Aviation and Aerospace Management Development, Festus Keyamo.
Keyamo highlighted the critical need for improved energy solutions to enhance efficiency and reduce costs in the aviation sector.
Also, stakeholders are calling for investment in renewable energy sources and more reliable power solutions to alleviate the financial strain on the aviation sector.
