FM: Economic risks from climate-linked trade barriers

Small island states like Barbados face mounting economic challenges due to global trade barriers tied to climate policies, Minister of Foreign Affairs and Foreign Trade Kerrie Symmonds,warned Parliament on Friday.

Speaking during discussions on the Appropriation Bill, Symmonds responded to a question from backbencher Marsha Caddle by highlighting the growing trend of industrialised nations retreating from commitments to reduce greenhouse gas emissions while imposing stringent environmental standards on developing countries.

He pointed specifically to Europe’s Carbon Border Adjustment Mechanism, which could penalise exports from nations unable to demonstrate low-carbon production processes.

“The war in Ukraine has given Europe an excuse to return to coal, yet they demand that we strip carbon from our industrial processes or face penalties,” Symmonds said.

The minister revealed that he had raised these concerns with European Commission President Ursula von der Leyen, cautioning that such measures could morph into “green protectionism,” effectively shutting Caribbean exports out of vital markets.

Symmonds emphasised the importance of forging diplomatic alliances to counteract unfair climate-linked trade barriers, noting that even industrial powerhouses like India were grappling with these requirements.

“If India finds them too demanding, what do you think it means for small states like ours?” he asked.

The senior mInister also underscored the urgency of achieving climate justice, advocating for policies that ensure developing nations have access to clean technologies. He pointed to delays in receiving electric vehicles despite Barbados removing import tariffs, arguing that global industrial policies must create opportunities for small economies to thrive.

Symmonds concluded by calling for a pragmatic approach to international climate negotiations, stressing that small states must not be left at an economic disadvantage.

(SM)