Wars and Climate Change Blamed for World Commerce Slowdown, Says UN Official
A high-ranking United Nations official recently highlighted the threats to global commerce posed by climate change and wars, such as the conflict in Gaza, impacting main maritime routes and increasing transportation costs. Rebeca Grynspan, the UNCTAD Secretary-General, noted improvements at the Panama Canal, crucial for world trade, amidst disruptions in other key waterways.
Grynspan emphasized the significance of combatting climate change and addressing geopolitical conflicts affecting commerce. These disruptions have led to bottlenecks, impacting inflation and prices of essential goods globally. The Panama Canal’s operational challenges due to climate change were also discussed, affecting ship transits and drafts.
Despite difficulties, the Canal Authority plans to increase shipping capacity to support global trade, emphasizing the necessity for safe navigation. Grynspan’s role as the first female UNCTAD Secretary-General signifies progress, while UN experts address challenges in enforcing environmental protection laws to combat crimes against nature.