This edition examines the current and emerging cross-cutting role of the ocean in advancing economic growth social inclusion and environmental sustainability. It builds on the discussions and outcomes of the Fourth United Nations Oceans Forum on trade-related aspects of SDG 14 life below water which took place in Geneva from 6 to 8 April 2022. The Review examines and provides an analysis of several key and emerging topics for the ocean economy including the seaweed sector as a lever for a sustainable economic recovery; fisheries subsidies and non-tariff measures (NTMs); the decarbonization of shipping and maritime supply chains; and plastic litter and other ocean waste challenges. It explores these issues identifies the main opportunities and challenges and concludes by offering a bottom-up menu of action-oriented policy recommendations for Small Island Developing States (SIDS) and coastal developing countries. It calls for a “Blue Deal” on trade and finance to accelerate the implementation of SDG 14 and identify practical yet far-reaching development paths towards a sustainable resilient and inclusive ocean economy by 2030 and beyond.

The Trade and Environment Review 2016 addresses the matter of harmful incentives primarily in terms of Illegal Unreported and Unregulated (IUU) fishing and fisheries subsidies as an important part of the toolkit to restore fish populations foster sustainable fisheries and deliver substantial economic and social gains. The Review proposes developing an overarching traceability system of traded fish from vessel to final consumer as key to arresting and eliminating IUU fishing but notes the requirement for major upgrading of institutional and technical implementation capacities which may be difficult for some countries with fewer financial resources. On subsidies there should be full transparency and disclosure of all fisheries subsidies which should be classified in order to identify and distinguish those that are harmful or not. Efforts to discipline capacity-enhancing subsidies should be exerted at the national regional and global levels of governance and given previous intransience on this issue a group of countries in partnership with organizations such as the WTO UNCTAD and the FAO could stimulate collective actions with bottom-up voluntary commitments to subsidy reform.

While several rapidly industrializing developing countries have not seen a major slump in their growth by the recent economic and financial crises UNCTAD’s Trade and Environment Review 2009/2010 (TER 09/10) focuses on the 140 plus low-income and least developed countries which have not caused the economic financial climate and food crises but have to bear the full brunt of these crises. The stress of the global financial crisis — as well as concerns about climate change and food prices — should be used by developing countries to shift towards clean growth. Because so little has been done in such nations huge gains can be realized in improving energy efficiency enhancing sustainable agricultural methods and stimulating the use of rural off-grid renewable energy. But to make this progress happen governments must eliminate market barriers and policies that prevent the flow of capital into these promising sectors.

The Trade and Development Review focuses on themes that are of particular interest to developing countries. In doing so it provides a forum for dialogue aimed at assisting developing countries in shaping their specific interest in the international trade and environment debate. The issues discussed in this publication are; trade obligations in multilateral environmental agreements environmental goods and services World Trade Organization and technical capacity building.