The Asian Development Bank (ADB) and the World Trade Organization (WTO) recognize significant synergies from working together on leveraging trade to address climate change. Strategic collaboration between ADB and WTO on this front is critical to support climate change mitigation and facilitate net zero transition in Asia and the Pacific region. At the United Nations Climate Change Conference (COP28) held in December 2023, ADB’s President Masatsugu Asakawa and WTO’s Director General Ngozi Okonjo-Iweala agreed to jointly work with ADB’s developing member countries (DMCs) on climate action analysis and stakeholder dialogues. The Action on Climate and Trade was launched by the World Economic Forum, World Trade Organization (WTO), and World Bank Group in April 2023 to assist developing economies to leverage trade to help meet their climate change adaptation and mitigation goals. Through a regional initiative partnering with ADB, ADB’s DMCs would be provided an opportunity to explore tailored ways to help them use trade and trade policy to enhance their climate change mitigation while promoting sustainable trade practices to support net zero targets.

This Forum, co-organized by ADB and the WTO, will be an initial gathering of key trade and climate stakeholders in the region to (i) understand the interface between trade policy and climate actions; (ii) assess the progress on DMCs’ use of trade and trade policy tools to support climate actions and achieve their climate related goals; and (iii) identify gaps and challenges and prepare a plan of action to facilitate implementation of trade and trade policy measures for climate mitigation and adaptation.

The Forum will focus on: (i) trade finance; (ii) trade facilitation; (iii) internal taxation and carbon pricing; (iv) greener and more resilient supply chains; (v) import tariffs and subsidies; (vi) trade in services; and (vii) government procurement.

The Forum’s target participants are DMCs’ trade and customs officials involved in trade and climate policy, private sector stakeholders, trade finance stakeholders, representatives of development partner agencies, and ADB and WTO staff.