April 2011: The International Centre on Trade and Sustainable Development (ICTSD) has published an essay evaluating the potential contribution of the international trade system to shaping the green economy.

The paper, which was authored by Ricardo Meléndez-Ortiz, concludes that, although today’s trade system may be incapable of steering the world into a “green economy,” it is a wisely constructed governance device, with principles that are valuable for managing interactions among members at different levels of development.

Establishing a governance system for trade that supports the green economy would take time, the essay says. A firm political will, articulated in the form of a compact for shared vision, agreed at the UN Conference for Sustainable Development (UNCSD, or Rio+20), thus is key to triggering reform and making it possible.

The essay is the first in a series from ICTSD that will explore trade-related issues in the lead-up to the UNCSD. [Publication: Governance of International Trade for the Green Economy]