“Exploring the Impact of Climate Change on Global Trade: UNCTAD Secretary-General Visits Panama Canal”
The upcoming Global Supply Chain Forum, organized by the UN Trade and Development (UNCTAD) and the Government of Barbados, is set to address critical issues impacting global trade and supply chains. With the backdrop of increasing climate change impacts on the Panama Canal and ongoing geopolitical challenges worldwide, the forum aims to bring together key stakeholders to discuss solutions and strategies for a more resilient and sustainable global trade system.
The Panama Canal, a vital trade route connecting the Atlantic and Pacific oceans, is currently facing challenges due to low water levels caused by below-normal rainfall attributed to the climate phenomenon “El Niño.” UNCTAD analysis shows a significant decrease in total transits through the Canal, highlighting the urgent need for adaptation and mitigation measures to address these issues.
Secretary-General Rebeca Grynspan’s visit to the Panama Canal ahead of the Global Supply Chain Forum underscores the importance of understanding the real-time impacts of climate change on global trade routes. The forum will feature a high-level segment with key speakers, including UN Deputy Secretary-General Amina J. Mohammed and Prime Minister Mia Amor Mottley, focusing on priority issues such as financing, trade facilitation, transport connectivity, digitalization, climate change adaptation, and disaster risk reduction.
With more than 60 sessions planned over the four-day event, the forum will bring together government officials, international organizations, academia, and business leaders to discuss innovative solutions to the challenges facing supply chains. The discussions will center around climate resilience, digital solutions, and trade facilitation, with a specific focus on small island developing states and landlocked developing countries that are particularly vulnerable to supply chain disruptions.
The forum will also explore the role of digital technologies such as blockchain, artificial intelligence, and the Internet of Things in streamlining cross-border trade processes and enhancing efficiency. By leveraging these technologies, participants aim to improve regulatory compliance, accessibility, and overall trade efficiency in a rapidly evolving global trade landscape.
As the world marks 60 years since the inception of UNCTAD, the Global Supply Chain Forum serves as a platform to address the evolving challenges facing global trade and supply chains. By fostering collaboration and innovation, the forum aims to pave the way for a more sustainable and resilient global trade system that can withstand the challenges of the 21st century.