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Friday, 07 October 2011

Climate change will impede north-south trade

Climate change is increasingly playing a role in North-South trade, as carbon emissions are being used as an excuse to protect markets, with poorer countries likely to lose out. A few months before the 17th COP to the United Nations Framework Convention on Climate Change in Durban, South Africa, there is little hope of a binding agreement on greenhouse gas emissions.

It is unlikely that the Kyoto Protocol, whose binding emission cuts for developed nations are set to lapse in 2012, will be extended. The absence of a legally binding agreement and especially a proper enforcement mechanism for such an agreement will lead to a surge in trade disputes and heightened protectionism, predicted experts at a Sept. 27 trade meeting in Windhoek.

Source: IPS News