As COP27 gets underway in Sharm El-Sheikh in Egypt, the Institute of Export & International Trade’s (IOE&IT) director general has expressed his hope that the conference will succeed in refocusing world leaders on the importance of combatting climate change while building on the successes of COP26 in putting international trade at the centre of this effort.
Marco Forgione, Director General of the IOE&IT said:
“This conference comes at a critical time for the international effort to combat climate change. It’s been a difficult year since Glasgow due to the energy crisis and economic fallout that has followed Putin’s invasion of Ukraine.”
“But there were strong policies and agreements landed on at COP26 which need to be delivered and built on. We hope that COP27 can refocus world leaders on what is humanity’s biggest challenge. Supply chains and trade have a central role to play in helping find solutions.”
One of the major agreements from COP26 in Glasgow last year was the signing of the Clydebank Declaration to develop green shipping corridors – routes between two or more maritime ports which have zero-emissions.
Forgione said that this needed to be built upon and that trade digitalisation has a key role to play.
“The Clydebank Declaration was a landmark agreement for international shipping and trade. This needs to be delivered and built upon.”
“Research was conducted by DFDS that found that for every 15 minutes one of its ships sits idle in a port, a tonne of heavy fuel is used. Increasing efficiency at international borders can therefore have a significant impact on reducing carbon emissions.”
“Digitalising border processes and trade documentation will play a key role in addressing existing inefficiencies. The IOE&IT is showing this can be down through the Ecosystem of Trust pilots in the UK and the Trade Logistics Information Pipeline in Kenya.
“Establishing digital corridors will play a key role in allowing green shipping routes to become a reality.”
He added that regulation like the Electronic Trade Documents Bill in the UK, which is currently making its way through Parliament, is playing a key role in making digital and greener trade possible.
“If anything, as well as paving the way for more efficient and digital trade, removing the need for so much physical paperwork will have a significant environmental impact” he said.