Trade policy has long included reassuring references to appease environmentalists, such as including sustainable development in the preamble to the Marrakesh Declaration of the World Trade Organization (WTO) and in provisions related to domestic environmental protection and conservation, as well as largely respecting global environmental norms, national policies and processes — especially those demonstrating a consistency of intent and commitment.

But this uneasy peace is likely to be tested sharply by fast-evolving climate policies, with a growing number of jurisdictions setting target dates to become carbon-neutral, using carbon taxes and other market-based measures as well as regulations, standards, and subsidies to get there.…  Seguir leyendo »