Agreement on Climate Change, Trade and Sustainability

International trade deal

Agreement on Climate Change, Trade and Sustainability
Members of the Agreement on Climate Change, Trade and Sustainability
Type	Trade agreement
Negotiators	4 Costa Rica Iceland New Zealand Switzerland

The Agreement on Climate Change, Trade and Sustainability (ACCTS) is a proposed trade agreement between Costa Rica, Iceland, New Zealand and Switzerland. The deal will eliminate tariffs on hundreds of environmental goods and services alongside carbon emission reduction commitments. Negotiations concluded on the 2nd July 2024 and the agreement is expected to be signed later in 2024 following legal verification.

History

ACCTS was first proposed in 2019 by New Zealand and negotiations started between New Zealand, Fiji, Costa Rica, Iceland and Norway. Switzerland joined negotiations in 2020. In 2021, the United Kingdom indicated they would not join the agreement in order to maintain their fossil fuel subsidies. New Zealand, Costa Rica, Iceland and Switzerland finished negotiations in July 2024 following fifteen rounds. Norway continues to consider joining.

Provisions

ACCTS includes provisions for:

The removal of tariffs on 300 environmental goods including low energy light bulbs, rechargeable batteries, wool and wood products.
Reform, reduction and elimination of fossil fuel subsidies.
Consistent voluntary eco-labelling guidelines.

Membership

Current

The following countries have committed to signing ACCTS following legal review:

Potential

The following countries have voiced interest in joining in the future:

ACCTS is open to all World Trade Organization members to join.

References

"Tariffs removed on key wool and wood products in trade deal". RNZ. 2024-07-03. Retrieved 2024-09-10.
^ "Agreement on Climate Change and Trade". Kommerskollegium. Retrieved 2024-09-10.
^ Trade, New Zealand Ministry of Foreign Affairs and. "Timelines". New Zealand Ministry of Foreign Affairs and Trade. Retrieved 2024-09-10.
Benson, Emily; Duncan, Elizabeth (2022-08-30). "Small Country, Big Climate Agenda: New Zealand's Approach to Climate and Trade". Centre for Strategic and International Studies.
"Update: New Zealand with Costa Rica, Fiji, Iceland, Norway and Switzerland - Agreement on Climate Change, Trade and Sustainability (ACCTS)". WITA. Retrieved 2024-09-10.
"UK refuses to join trade pact to end fossil fuel subsidies, eliminate tariffs on green goods". POLITICO. 2021-11-11. Retrieved 2024-09-10.
Trade, New Zealand Ministry of Foreign Affairs and. "Fossil fuel subsidy reform (FFSR)". New Zealand Ministry of Foreign Affairs and Trade. Retrieved 2024-09-10.
"Joint Ministerial Statement on Conclusion of Negotiations for the Agreement on Climate Change, Trade and Sustainability" (PDF). New Zealand Government. 2024-07-02. Retrieved 2024-09-11.
Affairs, Ministry of Foreign (2024-07-02). "Statement from Minister of Foreign Affairs Espen Barth Eide on the Announcement of the Conclusion of Negotiations for the Agreement on Climate Change, Trade and Sustainability". Government.no. Retrieved 2024-09-10.
Reinsch, William Alan (2024-08-12). "A Small Sign of Life on the Climate-Trade Front". Centre for Strategic and International Studies.

Free trade agreements of New Zealand

Existing

Bilateral	Australia China Hong Kong Malaysia Singapore Taiwan Thailand United Kingdom European Union
Multilateral	Trans-Pacific Strategic Economic Partnership Agreement (TPSEP) Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) ASEAN–Australia–New Zealand Free Trade Area (AANZFTA) Regional Comprehensive Economic Partnership (RCEP) PACER Plus

Pending

Awaiting legislation	Agreement on Climate Change, Trade and Sustainability (ACCTS)

Negotiating

Bilateral	United Arab Emirates Pacific Alliance Gulf Cooperation Council (CCASG / GCC)
Plurilateral	Indo-Pacific Economic Framework for Prosperity

Climate change

Overview
Causes of climate change Effects of climate change Climate change mitigation Climate change adaptation By country and region

Causes

Overview	Climate system Greenhouse effect (Carbon dioxide in Earth's atmosphere) Scientific consensus on climate change
Sources	Deforestation Fossil fuel Greenhouse gases Greenhouse gas emissions Carbon accounting Carbon footprint Carbon leakage from agriculture from wetlands World energy supply and consumption

History
History of climate change policy and politics History of climate change science Svante Arrhenius James Hansen Charles David Keeling United Nations Climate Change conferences Years in climate change 2019 2020 2021 2022 2023 2024

Effects and issues

Physical	Abrupt climate change Anoxic event Arctic methane emissions Arctic sea ice decline Atlantic meridional overturning circulation Drought Extreme weather Flood Coastal flooding Heat wave Marine Urban heat island Oceans acidification deoxygenation heat content sea surface temperature stratification temperature Ozone depletion Permafrost thaw Retreat of glaciers since 1850 Sea level rise Season creep Tipping points in the climate system Tropical cyclones Water cycle Wildfires
Flora and fauna	Biomes Mass mortality event Birds Extinction risk Forest dieback Invasive species Marine life Plant biodiversity
Social and economic	Agriculture Livestock Multi-breadbasket failure United States Children Cities Civilizational collapse Crime Depopulation of settlements Destruction of cultural heritage Disability Economic impacts U.S. insurance industry Fisheries Gender Health Mental health Human rights Indigenous peoples Infectious diseases Migration Poverty Psychological impacts Security and conflict Urban flooding Water scarcity Water security
By country and region	Africa Americas Antarctica Arctic Asia Australia Caribbean Europe Middle East and North Africa Small island countries by individual country

Mitigation

Economics and finance	Carbon budget Carbon emission trading Carbon offsets and credits Gold Standard (carbon offset standard) Carbon price Carbon tax Climate debt Climate finance Climate risk insurance Co-benefits of climate change mitigation Economics of climate change mitigation Fossil fuel divestment Green Climate Fund Low-carbon economy Net zero emissions
Energy	Carbon capture and storage Energy transition Fossil fuel phase-out Nuclear power Renewable energy Sustainable energy
Preserving and enhancing carbon sinks	Blue carbon Carbon dioxide removal Carbon sequestration Direct air capture Carbon farming Climate-smart agriculture Forest management afforestation forestry for carbon sequestration REDD and REDD+ reforestation Land use, land-use change, and forestry (LULUCF and AFOLU) Nature-based solutions
Personal	Individual action on climate change Plant-based diet

Society and adaptation

Society	Business action Climate action Climate emergency declaration Climate movement School Strike for Climate Denial Ecological grief Governance Justice Litigation Politics Public opinion Women
Adaptation	Adaptation strategies on the German coast Adaptive capacity Disaster risk reduction Ecosystem-based adaptation Flood control Loss and damage Managed retreat Nature-based solutions Resilience Risk Vulnerability The Adaptation Fund National Adaptation Programme of Action
Communication	Climate Change Performance Index Climate crisis (term) Climate spiral Education Media coverage Popular culture depictions art fiction video games Warming stripes
International agreements	Glasgow Climate Pact Kyoto Protocol Paris Agreement Cooperative Mechanisms under Article 6 of the Paris Agreement Nationally determined contributions Sustainable Development Goal 13 United Nations Framework Convention on Climate Change

Background and theory

Measurements	Global surface temperature Instrumental temperature record Proxy Satellite temperature measurement
Theory	Albedo Carbon cycle atmospheric biologic oceanic permafrost Carbon sink Climate sensitivity Climate variability and change Cloud feedback Cloud forcing Fixed anvil temperature hypothesis Cryosphere Earth's energy budget Extreme event attribution Feedbacks Global warming potential Illustrative model of greenhouse effect on climate change Orbital forcing Radiative forcing
Research and modelling	Climate change scenario Climate model Coupled Model Intercomparison Project Intergovernmental Panel on Climate Change (IPCC) IPCC Sixth Assessment Report Paleoclimatology Representative Concentration Pathway Shared Socioeconomic Pathways

v t e Sustainability
Outline Index
Principles	Anthropocene Environmentalism Global governance Human impact on the environment Planetary boundaries Development
Consumption	Anthropization Anti-consumerism Circular economy Durable good Earth Overshoot Day Ecological footprint Ethical Green consumption Micro-sustainability Over-consumption Product stewardship Simple living Social return on investment Steady-state economy Sustainability Advertising Brand Marketing myopia Sustainable Consumer behaviour Market Systemic change resistance Tragedy of the commons
World population	Demographic transition Family planning Control Sustainable population
Technology	Appropriate Environmental technology Natural building Sustainable architecture Sustainable design Sustainable industries Sustainable packaging
Biodiversity	Biosecurity Biosphere Conservation biology Endangered species Holocene extinction Invasive species
Energy	Carbon footprint Renewable energy Sustainable energy
Food	Civic agriculture Climate-smart agriculture Community-supported agriculture Cultured meat Sustainable agriculture Sustainable diet Sustainable fishery
Water	Air well (condenser) Bioretention Bioswale Blue roof Catchwater Constructed wetland Detention basin Dew pond Footprint Hydroelectricity Hydropower Infiltration basin Irrigation tank Marine energy Micro hydro Ocean thermal energy conversion Pico hydro Rain garden Rainwater harvesting Rainwater tank Reclaimed water Retention basin Run-of-the-river hydroelectricity Scarcity Security Small hydro Sustainable drainage system Tidal power Tidal stream generator Tree box filter Water conservation Water heat recycling Water recycling shower Water-sensitive urban design
Accountability	Corporate environmental responsibility Corporate social responsibility Environmental accounting Environmental full-cost accounting Environmental planning Sustainability Accounting Measurement Metrics and indices Reporting Standards and certification Sustainable yield
Applications	Advertising Art Business City Climate finance Community Disinvestment Eco-capitalism Eco-cities Eco-investing Eco-socialism Ecovillage Environmental finance Green economy Construction Fashion Finance Gardening Geopark Green Development Infrastructure Marketing Green roof Greening Impact investing Landscape Livelihood Living Market Organic movement Organizations Procurement Refurbishment Socially responsible business Socially responsible marketing Sanitation Sourcing Space Sustainability organization Tourism Transport Urban drainage systems Urban infrastructure
Sustainable management	Environmental Fisheries Forest Humanistic capitalism Landscape Materials Natural resource Planetary Recycling Waste
Agreements and conferences	UN Conference on the Human Environment (Stockholm 1972) Brundtlandt Commission Report (1983) Our Common Future (1987) Earth Summit (1992) Rio Declaration on Environment and Development (1992) Agenda 21 (1992) Convention on Biological Diversity (1992) Lisbon Principles (1997) Earth Charter (2000) UN Millennium Declaration (2000) Earth Summit 2002 (Rio+10, Johannesburg) UN Conference on Sustainable Development (Rio+20, 2012) Sustainable Development Goals (2015)
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