On July 11, 2023, U.S. Customs and Border Protection (CBP) held the Green Trade Innovation and Incentives Forum, the agency’s first conference that covered CBP’s Green Trade Strategy and related sustainable trade issues. The CBP Green Trade Strategy was formulated by the World Customs Organization (WCO) in Brussels in June of 2022 and serves as the agency’s action plan for addressing climate change’s impact on global trade. The Green Trade Strategy seeks to create business incentives that promote green investment and innovation but also includes ramped-up environmental enforcement efforts. The conference participants included multiple senior officials from CBP, and its partner agencies, as well as top executives from leading industry organizations.
Green Trade Incentives:
AnnMarie Highsmith, Executive Assistant Commissioner for CBP’s Office of Trade explained that the Green Strategy rests on four pillars:
- Incentivizing Green Trade
- Strengthening environmental enforcement posture
- Accelerating green innovation
- Improving climate resilience and resource efficiency
The first and third pillars refer to CBP’s efforts to work with its partner government agencies and industry leaders to remove barriers to sustainable trade and to promote green innovation. Multiple industry leaders at the conference proposed ways that CBP could create incentive structures that reduce the carbon footprint of global supply chains and promote green innovation.