ACCTS – Agreement on Climate Change, Trade and Sustainability
The ACCTS (Agreement on Climate Change, Trade and Sustainability) is an innovative plurilateral trade agreement between Costa Rica, Iceland, New Zealand and Switzerland that combines environmental and trade policy to promote sustainable development through concrete, legally binding trade rules. The agreement is open to other WTO members.
Key elements of the agreement
- Environmental goods: Tariff-free access for 360 products, including technologies for environmental protection, renewable energy, the circular economy and energy efficiency.
- Environmental services: Liberalisation of 114 services that contribute significantly to achieving environmental objectives.
- Fossil fuel subsidies: Ban on particularly harmful environmental subsidies, including those for coal, oil and gas production, with capping of new subsidies and freezing of existing ones.
- Environmental labels: 13 guidelines on the quality and transparency of voluntary environmental labels to tackle greenwashing and enable informed consumer choices.
Although ACCTS sits outside the WTO legal framework, it was developed in line with WTO rules. It is regularly updated and can be expanded to include new topics. Further WTO members are actively encouraged to join. An arbitration procedure ensures disputes between parties are resolved.
ACCTS is creating a growing network for sustainable trade – a forward-looking contribution to global climate and trade policy.
Further information
Index
Press releases
Agreement on Climate Change, Trade and Sustainability (ACCTS) signed
15.11.2024
Related topics
Sustainability in foreign economic affairs
Switzerland, through its foreign economic policy, contributes to sustainable development at home and abroad. It supports objectives in climate, environment, human rights, labour standards and responsible corporate governance.
Content of the OECD Guidelines
The OECD Guidelines cover, among other things, human rights, labour rights, the environment, anti-corruption, consumer interests, transparency, technology, competition and taxation.
Corporate Sustainability CSR
Corporate sustainability encompasses the impact of business activities on society and the environment. It is regarded as a contribution to sustainable development.
Contact
Foreign Economic Affairs Directorate
World Trade / WTO Division
Holzikofenweg 36
3003 Bern