Selected Legal Issues
Chapter 9: Sustainable development and mega-regionals: the TTIP and TPP
This chapter provides an analysis from the broader perspective of sustainable development of two mega-regional trade agreements currently under negotiation: the Transatlantic Trade and Investment Partnership (TTIP) and the Trans-Pacific Partnership (TPP). It is argued that these preferential trade agreements present a more efficient vehicle through which to promote sustainable development than the multilateral trading platform. The chapter presents the future of international energy governance in the broader context of sustainability by linking multiple policy objectives: energy, trade, and environment. It further argues that the TTIP has the potential to foster sustainable development, energy efficiency, and energy security. Trade has already proven to be a powerful tool towards achieving environmental goals. For example, the Montreal Protocol on Substances that Deplete the Ozone Layerrestricted Parties from trading in ozone-depleting substances with non-Parties. This served the dual purpose of encouraging wide participation (the Montreal Protocol now has 197 Parties),and removing any competitive advantage that a non-Party might enjoy (that is, preventing leakageto non-participating jurisdictions). Moreover, the success of the Montreal Protocol lies in the fact that trade was not actually restricted. Climate change, however, is a far more complex issue, both connected to and giving rise to a host of other issues and areas, including greenhouse gas (GHG) emissions, clean energy technology, knowledge transfer, investment in low-carbon economies, development assistance, carbon capture and storage, and adaptation.
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