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World Longest UN climate talks end with no deal on carbon markets

14:16  15 december  2019
14:16  15 december  2019 Source:   msn.com

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The longest UN climate talks on record have finally ended in Madrid with a compromise deal . Exhausted delegates reached agreement on the key Decisions on other issues including the thorny question of carbon markets have been delayed until Glasgow. This aspect of the deal was welcomed

UN climate talks in Madrid enter their final scheduled day with divisions emerging between major emitting countries and small island states. Negotiators are attempting to agree a deal in the Spanish capital that would see countries commit to make new climate pledges by the end of 2020.

MADRID (AP) — Marathon international climate talks ended Sunday with negotiators postponing until next year a key decision on how to regulate global carbon markets.

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The COP 25 UN climate conference in Madrid remained deadlocked on Sunday, more than 36 hours after the two-week Negotiations to overcome several rifts over how to tackle the climate crisis — and who should pay for it — continued on Saturday and Sunday, amid concerns they may end in failure.

Source: Climate Action Tracker. This year, the talks are meant to flesh out Article 6 of the Paris deal , which endorsed the principle of using markets to For many envoys at the talks , the focus on carbon markets is a distraction. They want more done to raise ambitions to make deeper cuts in emissions

After two weeks of negotiations in Madrid on tackling global warming, delegates from almost 200 nations passed declarations calling for greater ambition in cutting planet-heating greenhouse gases and in helping poor countries that are suffering the effects of climate change.

But despite holding the longest climate talks ever in 25 nearly annual editions they left one of the thorniest issues for the next summit in Glasgow, in a year's time.

Carbon markets put a price on emission of carbon dioxide, the main greenhouse gas, and allows countries or companies to trade emissions permits that can be steadily reduced — encouraging the uptake of low-emission technologies.

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of the United Nations climate talks in Madrid, envoys from almost 200 nations remain divided about how to bring market mechanisms into reducing The debate all concerns Article 6 of the Paris deal , a section of the 27-page pact that made way for carbon market mechanisms without setting out how

UN climate talks appear to be in trouble as they head into extra time. Fault lines have re-appeared between major Negotiators are working towards a deal that would see countries commit to make new climate Some 73 have said they will set a long -term target of net zero by the middle of the century.

Countries from Europe and elsewhere had said that no deal on how to govern the exchange of carbon credits was better than a weak one that could undermine a dozen or so existing regional carbon mechanisms.

“Thankfully, the weak rules on a market based mechanism, promoted by Brazil and Australia, that would have undermined efforts to reduce emissions has been shelved," said Mohamed Adow, director of Power Shift Africa, a campaign group.

The talks have been accompanied at times by angry protests from indigenous and environmental groups, both inside and outside the venue. The demonstrations reflected growing frustration, particularly among young people, at the slow pace of government efforts to curb climate change.

Among the documents that the U.N. meeting passed Sunday was the “Chile-Madrid Time for Action” declaration calling on countries to improve their current pledges to reduce greenhouse gas emissions. That is needed to come in line with the 2015 Paris Agreement target of avoiding a temperature increase of more than 1.5 degrees Celsius (2.7 degrees Fahrenheit) by the end of the century.

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With two days to go before the scheduled conclusion of the United Nations climate talks in Madrid, envoys from almost 200 nations remain divided about how to bring market mechanisms into reducing greenhouse-gas emissions. The delegates are working on rules that would govern carbon markets

The use of carbon markets to curb rising greenhouse gas emissions was dealt a blow on Sunday after two weeks of United Nations talks on designing and reforming the mechanisms ended in deadlock. The negotiations, held as part of UN climate negotiations in Bonn, Germany, made scant progress as

So far, the world is on course for a 3- to 4-degree Celsius rise, with potentially dramatic consequences for many countries.

Countries also agreed to designate funds for the most vulnerable countries to compensate them for the effects of extreme weather events, one of the most pressing issues for small island states.

But environmental groups and activists accused the world's richer countries of showing little commitment to seriously tackling climate change.

"The Paris Agreement may have been the victim of a hit-and-run by a handful of powerful carbon economies, but they are on the wrong side of this struggle, the wrong side of history," said Jennifer Morgan, Greenpeace International's executive director.

"Climate blockers like Brazil and Saudi Arabia, enabled by an irresponsibly weak Chilean leadership, peddled carbon deals and steamrolled scientists and civil society," she said.

Chile chaired the talks, which had to be quickly moved to Madrid amid violent anti-government protests back home. Despite the pressure to deliver a positive outcome, activists criticized the Chilean government of President Santiago Piñera for holding on to coal-fired power plants until 2040.

Helen Mountford from World Resources Institute, an environmental think tank, said the talks “reflect how disconnected country leaders are from the urgency of the science and the demands of their citizens in the streets.”

“They need to wake up in 2020," she added.

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Follow AP’s climate coverage at https://www.apnews.com/Climate

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The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content.

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