On July 20, 2011, U.S. Dept. of Commerce Secretary Gary Locke formally declared the nation of Iceland to be in defiance of the International Whaling Commission’s global ban on commercial whaling. The declaration was met with over-whelming approval by numerous NGOs and conservation groups the world over. As a result of the commerce secretary’s declaration, President Obama now has 60 days to decide whether to impose economic penalties and/or trade sanctions against Iceland. Such sanctions are authorized under legislation known as the ‘Pelly Amendment’.
For the first time, the World Trade Organization (WTO) teamed up with the United Nations Environmental Programme (UNEP) to release a report outlining the relationship between trade and climate change. The report describes the multitude of ways in which climate change and trade intersect.