WTO Wants More Globalization and Asks How to ‘Redesign Global Financial Architecture’ in Name of Climate Change

WTO Wants More Globalization and Asks How to ‘Redesign Global Financial Architecture’ in Name of Climate Change
The headquarters of the World Trade Organization (WTO) is seen in Geneva, Switzerland, on Dec. 11, 2019. Robert Hradil/Getty Images
Naveen Athrappully
Updated:
0:00

The World Trade Organization (WTO) has published its 2022 edition of the World Trade Report, which pushes for more globalization and a shift away from fossil-fuel vehicles as part of its fight against climate change.

One of the messages of the report is that trade is a force multiplier as countries adapt and adjust to climate disruptions. “Open international markets would help countries achieve necessary economic adjustment and resource reallocation,” a press release about the report stated on Nov. 7. Countries that are more open to trade tend to have a “greater capacity to adapt to climate change,” the report stated.