When it comes to sustainability, global trade is already better than its reputation today – but a clear set of rules can improve this: Our current system already offers many starting points and instruments that have the potential to contribute to more sustainable trade. Nevertheless, it can only solve part of the problem and steer international production in the most sustainable way possible.
Globally valid and implemented rules are a prerequisite for sustainable international trade. The EU strengthens these rules, for example through sustainability chapters in free trade agreements. Voluntary certifications such as Fairtrade can effectively strengthen sustainable trade beyond mandatory regulations. Globally valid pricing of unsustainable behaviour could therefore be the most effective instrument for strengthening sustainability globally through international trade.
No. 3 of our Sustainability Monitor clearly defines the term in relation to commerce. It also evaluates how sustainable international trade is currently and shows how it can be improved. A striking finding of the study, however, is that states with endemic corruption can only be persuaded to adopt sustainable behaviour to a limited extent by means of trade policy instruments.
To commit you must sign in.