Member States at the Trade Commission agreed that climate change response measures should not prevent developing countries from achieving their economic growth and poverty reduction objectives. The potential of green investment flows for developing countries could even provide opportunities for those who are thinking ahead of the curve.

Climate change recognized as one of the major political, technical, developmental and societal challenges of the century.

At the 2007 Trade Commission session on 22 March in Geneva, which was devoted to emerging issues in the trade, environment and development debate, experts pointed out that global warming was accelerating due to human activities. Changing climate patterns were negatively affecting all countries, the poorest being the least able to react and adjust.

Despite the urgent need for action, the meeting participants agreed that climate change response measures should not prevent developing countries from achieving their economic growth and poverty reduction objectives. On the contrary, the present and future climate change regime should provide an opportunity for creating new jobs and new business opportunities and for developing innovative products, services and technologies that could contribute to climate change mitigation. Trade rules and practices should facilitate the widespread use of those goods and services.

Global challenges such as climate change require global solutions. It is clear that no solution can be sustainable without fundamental changes in our daily economic activities. In this connection, the United Nations is not just a forum for discussion and negotiation, it is also a committed supporter of such a global endeavour Mr. Feng Gao, on behalf of the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat.

"While we are in the climate change challenge for the long haul, opportunities are opening up right now for those who are thinking ahead of the curve", said Janos Pasztor, Director of the Environment Management Group at UNEP. The Kyoto Protocol mechanisms, in particular the Clean Development Mechanism (CDM), had already delivered emissions reductions of more than 1.9 billion tonnes of CO2 equivalent. With carbon price well above US$ 10 per tonne, there was an enormous potential to generate green investment flows to developing countries. Ultimately, participants agreed that climate change was above all a development challenge, making it an issue that UNCTAD should prominently address, for example through the promotion of the biofuels option.

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