Global Trade Update (November 2026): Accelerating climate action requires trade cooperation

This edition of the Global Trade Update examines how trade can support climate action at a time when climate impacts are becoming more severe and costly. It argues that access to technologies, investment, services and knowledge will be critical for countries seeking to adapt to climate change and reduce emissions.

Trade can also help countries diversify their economies and build resilience. However, the report stresses that stronger implementation and greater trade cooperation are needed to turn commitments into concrete results.

Climate risks are rising as economic costs grow Between 2015 and 2025, the world experienced the 11th warmest years on record. In 2025, the global average temperature was about 1.4°C above pre-industrial levels. The world is on course to exceed the Paris Agreement’s 1.5°C goal. These trends bring growing economic risks.

At 3°C of warming, one estimate cited in the report projects losses equivalent to 10% of global GDP. In poorer countries closer to the equator, losses could reach 17% of GDP. Another estimate projects global GDP losses of around 40% by 2100 under a high-emissions scenario.

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