VIDEO | ICC’s Lord Karan Bilimoria on enabling sustainable trade - Trade Treasury Payments

At the ICC UK Sustainability Conference in London, Trade Treasury Payments (TTP) sat down with Lord Karan Bilimoria of Chelsea, Chair of ICC UK, to discuss how trade and climate goals can align, and what risks must be avoided as new measures come into force.

Bilimoria said, “Sustainable trade is no longer a nice-to-have. It’s a necessity for long-term economic growth, resilience, and global competitiveness.”

He points to the need for regulatory certainty and a shift away from short-term fixes. “We need to move to a consistent framework, policies and financial tools that work together. Governments must align trade and climate policy.”

The ICC, which represents 45 million businesses in over 170 countries, is focusing on scalable finance, practical ESG standards, and inclusive rule-making. “Access to finance is absolutely crucial,” he said. “And it won’t happen without scalable, bankable projects. London, as the headquarters of green finance, has a key role to play.”

The ICC is promoting SDG-aligned financing tools and green taxonomies to help unlock private capital, especially for SMEs. “We must make sure SMEs are not left behind,” Bilimoria said. “They need to be able to access the same frameworks and financing opportunities as large corporates.”

Data consistency and ESG measurement are also in focus. “What gets measured gets done,” he said. “We’re helping establish globally aligned carbon accounting and assurance systems. But they have to be credible, and most importantly, practical.”

When asked about climate-related trade measures, such as carbon pricing and ESG standards, Bilimoria is clear on the risk. “There’s a growth risk with well-intentioned climate tools,” he said. “Things like the CBAM or ESG standards could inadvertently create new trade barriers, especially for developing economies.”

Instead, the emphasis must be on inclusive design and transparent implementation. “Climate measures must be fair,” he said. “The voluntary carbon market, for example, holds huge potential—but only if governed with integrity.”

He points to ICC’s 2024 report on the voluntary carbon market and its support for frameworks such as the Core Carbon Principles. “These kinds of standards build trust and prevent market distortion,” Bilimoria said. “They also give businesses credible tools to engage in decarbonisation without regulatory confusion.”

To that end, ICC is advocating for greater international coordination. “We’re calling for harmonised rules and standards, so that businesses, especially SMEs and exporters in developing markets, are not squeezed out by frameworks they cannot afford to comply with.”

“Climate change will not be solved through isolation in green clothing,” he said. “It’s going to take collaboration, trust, and inclusive growth. The ICC is committed to ensuring climate measures lift all economies, not just the wealthiest.”

Watch the video via Youtube HERE.