A new report released by Commerzbank, titled “Five drivers of sustainable trade: understanding the magnitude of change”, suggests that while sustainable trade is still in its infancy, it is an area that will grow in the years to come if substantial obstacles can be overcome.
The report, which looks at how the future of sustainable global trade will be shaped over the next 10-15 years, pinpoints five key drivers: 1) Regulatory competition and protectionism; 2) New patterns of global demand; 3) Trends in supply chains; 4) Alliances, standards and labels; and 5) innovative finance the role of the banks.
With the launch of the report, Commerzbank sets out to bring clarity to the topic of sustainable trade, given that there is currently wide divergence on what a sustainable approach to international trade should constitute. As such, this lack of clarity will constrain corporate commitment and action to some extent, and will almost certainly create challenges for governments wanting to put in place coherent, relevant regulation.
Following outreach by Moorgate, the following publications covered the report’s findings: GTR, TMI, gtnews, TFR, TXF, Trade Finance and Global Banking & Finance Review