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“The WTO has lost a lot of standing,” says HSG professor Evenett “The WTO has lost a lot of standing,” says HSG professor Evenett “The WTO has lost a lot of standing,” says HSG professor Evenett
G-20 leaders are discussing ways to revive the Geneva-based World Trade Organization and ease trade tensions at this week’s summit in Japan. A new report by the Global Trade Alert at the University of St. Gallen says governments overall have lost over a trillion U.S. dollars in trade. One of the report’s authors, HSG professor Simon Evenett, addresses the WTO’s future and the role Switzerland can play to help improve global trade relations.
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Kasmira Jefford
Geneva launches first Center for Business and Human Rights in Europe
The University of Geneva is launching the first center dedicated to human rights at a business school in Europe, in collaboration with NYU’s Stern School in the U.S. Dorothée Baumann-Pauly, the center’s director, discusses upcoming projects and why a proposal to hold Swiss-based multinationals accountable for human rights violations abroad won’t work without proper measures to ensure companies are putting rules into practice.
Francesca Codega
How much climate change is costing Switzerland
In just 15 days this past summer, Switzerland saw the equivalent of one year’s drinking water melt from its glaciers, something that hurt power production and impacted infrastructure.
Kasmira Jefford
Water supply on edge in Swiss Alps too, warns Mountain Summit
The impact of climate change on mountain ecosystems is putting the world’s water supplies—and the economies that rely on them—at risk, warns Carolina Adler, co-chair of the inaugural High Mountain Summit organized by the World Meteorological Organization in Geneva. This comes after the heat wave earlier this year caused Swiss glaciers to melt at record rates.
Kasmira Jefford
Millennials’ message on global trade: “please listen to us”
Millennials and Generation Z now account for two-thirds of the global workforce and need to be given a bigger say in the debate on the future of global trade. That was one of the resounding messages delivered by a dedicated panel of young entrepreneurs invited to speak at the 2019 WTO Public Forum in Geneva. Andrés Escobar, founder of U.S.-based IMPCT Coffee, and Chebet Lesan, founder of Kenya’s Bright Green Renewable Energy, say it’s as simple as “please listen to us.”
Francesca Codega
How much does the trade war cost?
Forecasts for global growth have been downgraded. The trade war, besides being unaffordable, is also preventing other challenges from being addressed, as American economist Jeffrey Sachs explains.
Kasmira Jefford
U.S., not China, poses biggest threat to global trade, new book asserts
China’s entry into the World Trade Organization in 2001 had huge ramifications for the global trading system and in shaping the events that have led to today’s U.S.-China trade war, explains author Paul Blustein in his new book, “Schism: China, America, and the Fracturing of the Global Trading System.” But Blustein, a senior fellow at the Centre for International Governance Innovation, argues that the Trump administration actually poses a bigger threat to the system with its decision to “flagrantly violate” WTO rules.
Kasmira Jefford
What it takes to make sustainable finance mainstream
The finance sector needs to take the sustainability discussion from niche to mainstream if it wants to play its part in meeting the UN’s Sustainable Development Goals, WWF Switzerland CEO Thomas Vellacott has urged. He was speaking at the 2019 Building Bridges Summit in Geneva, where 800 NGO officials, bankers, wealth managers, and regulators joined forces to discuss how to boost their efforts in sustainable finance.
Kasmira Jefford
“We shouldn’t need Greta to remind us of the problems”
The United Nations kicked off its General Assembly in New York last week with the day-long Climate Action Summit, attended by heads of state, business leaders, and youth activists. But one main criticism was a lack of new commitments, especially by the world’s biggest polluting countries, like the U.S. and China. Peter Bakker, president and CEO of the World Business Council for Sustainable Development, was on the ground and shares his key takeaways from the conference.
Kasmira Jefford
Crocodiles, pythons, and lizards: The trade behind Swiss luxury goods
Switzerland is one of the busiest hubs for the trade of products derived from animals and plants, driven by the watchmaking and luxury goods industries. It’s also home to the headquarters of the Convention on International Trade in Endangered Species (CITES). Secretary-General Ivonne Higuero explains how the organization is working with luxury companies like LVMH and Richemont to promote sustainable trade and support local economies.
Kasmira Jefford
International Geneva eyes expansion as CHF 112 MN funding approved
Parliament has given the green light for CHF 112 MN in funding for International Geneva, as Switzerland steps up its efforts to retain its title as a leading global hub for multilateral relations. Speaking to CNNMoney Switzerland, Federal Councillor Ignazio Cassis says part of this drive will include attracting new UN member states to Geneva, as competition from rival host countries heats up.
Kasmira Jefford
UNCTAD: Europe is falling behind U.S., China in digital economy race
Europe is struggling to make its mark in the digital economy, accounting for only 4 percent of the market value of the world’s 70 biggest digital platforms. The U.S. and China, on the other hand, have a combined 90 percent share, according to a new report by the United Nations Conference on Trade and Development. Isabelle Durant, deputy secretary-general, is calling on Europe to form new alliances.
Kasmira Jefford
Diplomatic economics: UN Geneva’s new head to bring fresh perspective
Tatiana Valovaya, the newly appointed director general of the UN office in Geneva, wants to bring a new proactive approach to the work the organization does at its European headquarters. The Russian diplomat tells CNNMoney Switzerland why her background as an economist will help make a difference in achieving this.
Kasmira Jefford
Making more female voices heard—and read—in global affairs
Find out about the solutions that Angela Merkel, Christine Lagarde, and 26 other female leaders in their field are bringing to the debate on global governance in a new book published by the International Trade Centre.
Kasmira Jefford
These women are bringing solutions to the global economy
German Chancellor Angela Merkel and incoming ECB President Christine Lagarde are among the 28 female policymakers offering solutions to global challenges in a new book by the Geneva-based International Trade Centre. A recurring theme? The need to restore trust, says Arancha González, editor of the book and the ITC’s executive director.
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