The COVID-19 pandemic poses threats and opportunities for international efforts on trade and climate change issues. The pandemic is forcing governments around the world to consider implementing wider circular economy policies, localizing larger parts of the supply chain as well as potentially applying more stringent protectionist agendas. Governments are also currently responding to the pandemic with stimulus packages to address all affected areas in their economies, and in some cases these involve fossil fuel subsidies. Due in part to the global lockdown demand for oil reduced by more than 15 million bpd in April. This resulted in the lowest energy prices the world has seen in decades.
The webinar intends to discuss global trade policy responses as well as the broader climate and environment policy discussions. The first session will focus on the global perspective of current global events and specific government response measures. The second session will focus the current situation from a Geneva perspective. Friends for Advancing Sustainable Trade (FAST) and Friends of Fossil Fuel Subsidies Reform (FFFSR) will share their views as well as trade policy supporting resilience.