EU von der Leyen: Will discuss on scaling up renewable energy, digital governance and AI – FXStreet

European Union’s Strategic Trade Initiatives and Alignment with Sustainable Development Goals

Strengthening Global Partnerships for Sustainable Development (SDG 17)

In a statement at a G20 event, European Union (EU) Commission President Ursula von der Leyen reported on the EU’s rigorous efforts to finalize bilateral trade agreements with several Asia-Pacific nations. This initiative directly supports the objectives of Sustainable Development Goal 17 (Partnerships for the Goals) by strengthening global partnerships for sustainable development through enhanced trade and economic cooperation. The EU is actively working to conclude these agreements, reinforcing its commitment to a rules-based international order.

The countries targeted for these finalized trade agreements include:

• India
• Australia
• United Arab Emirates
• Thailand
• Philippines
• Malaysia

Core Thematic Areas for Sustainable and Inclusive Growth

The scope of the discussions for these agreements extends beyond traditional trade to encompass critical areas for global sustainable development. The agenda is structured to advance several key SDGs through targeted policy and cooperation.

1. Affordable and Clean Energy (SDG 7) & Climate Action (SDG 13): A primary focus will be on scaling up renewable energy. This objective aims to accelerate the transition to clean energy sources, combat climate change, and ensure access to affordable, reliable, and sustainable energy for all.
2. Industry, Innovation, and Infrastructure (SDG 9): Negotiations will address digital governance and the ethical implementation of Artificial Intelligence (AI). This aligns with SDG 9 by seeking to build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation.
3. Decent Work and Economic Growth (SDG 8): The EU’s overarching commitment to rules-based trade is designed to promote sustained, inclusive, and sustainable economic growth. Fair trade practices are fundamental to creating decent work and improving economic conditions in partner countries.

Upholding Rules-Based Trade for Equitable Progress (SDG 10)

President von der Leyen emphasized the EU’s foundational belief that a rules-based trade system delivers widespread benefits. This approach is crucial for ensuring that the gains from trade are distributed equitably, thereby contributing to the reduction of inequalities both within and among countries, a core target of SDG 10 (Reduced Inequalities). The proposed agreements are intended to establish a stable and predictable framework that supports mutual economic prosperity and advances the global sustainable development agenda.

Analysis of Sustainable Development Goals in the Article

1. Which SDGs are addressed or connected to the issues highlighted in the article?

1. SDG 7: Affordable and Clean Energy
   • The article explicitly mentions that discussions will include “scaling up renewable energy.” This directly connects to the goal of ensuring access to affordable, reliable, sustainable, and modern energy for all.
2. SDG 8: Decent Work and Economic Growth
   • The focus on finalizing trade agreements and the detailed discussion on economic indicators such as “GDP,” “employment,” and “Trade Balance” are central to promoting sustained, inclusive, and sustainable economic growth. The article notes that a “strong economy is good for the Euro” and that data releases “gauge the health of the economy.”
3. SDG 9: Industry, Innovation and Infrastructure
   • The article highlights that “digital governance, and AI” will be discussed. These topics are fundamental to building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation.
4. SDG 17: Partnerships for the Goals
   • The core theme of the article is international cooperation. The EU Commission President’s statement about “working nonstop to finalise trade agreements with India, Australia, UAE, Thailand, Philippines, and Malaysia” and the emphasis on “rules-based trade” directly address the need for global partnerships to achieve sustainable development.

2. What specific targets under those SDGs can be identified based on the article’s content?

1. Target 7.2: By 2030, increase substantially the share of renewable energy in the global energy mix.
   • This target is directly supported by the statement that leaders “will discuss scaling up renewable energy.”
2. Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries.
   • The article’s emphasis on economic health indicators like “GDP” and “employment” as measures of a strong economy aligns with the goal of sustaining economic growth.
3. Target 9.c: Significantly increase access to information and communications technology and strive to provide universal and affordable access to the Internet in least developed countries by 2020.
   • While the target year has passed, the principle remains relevant. The discussion of “digital governance, and AI” points towards advancing technology and its accessibility, which is the essence of this target.
4. Target 17.10: Promote a universal, rules-based, open, non-discriminatory and equitable multilateral trading system under the World Trade Organization, including through the conclusion of negotiations under its Doha Development Agenda.
   • The statement that “Europe is doubling down on our core belief that rules-based trade delivers” directly reflects the objective of this target.
5. Target 17.11: Significantly increase the exports of developing countries, in particular with a view to doubling the least developed countries’ share of global exports by 2020.
   • The EU’s effort to finalize trade agreements with several developing countries in the Asia-Pacific region, including “India, Thailand, Philippines, and Malaysia,” is a direct action towards increasing their export opportunities.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

1. For Target 7.2:
   • The article implies the use of an indicator related to the share of renewable energy in the energy mix, as progress would be measured by the success of “scaling up renewable energy.”
2. For Target 8.1:
   • The article explicitly mentions several economic indicators used to “gauge the health of the economy,” which can measure progress towards this target. These include:
     • GDP: Corresponds to Indicator 8.1.1 (Annual growth rate of real GDP per capita).
     • Employment: Corresponds to Indicator 8.5.2 (Unemployment rate).
3. For Target 17.11:
   • The article explicitly mentions the Trade Balance, which “measures the difference between what a country earns from its exports and what it spends on imports.” This is directly related to Indicator 17.11.1 (Developing countries’ and least developed countries’ share of global exports).
4. For Target 17.10:
   • An implied indicator is the number and status of finalized trade agreements. The article lists specific countries the EU is negotiating with, and the finalization of these deals would be a clear measure of progress.

4. SDGs, Targets, and Indicators Table

Source: fxstreet.com