Global climate talks stumble to a conclusion – POLITICO
MADRID — The COP25 global climate talks concluded today with negotiators failing to agree on uncompleted sections of the rules for the Paris Agreement dealing with carbon markets and trading emissions credits — something that was supposed to be the main aim of the summit.
“Regretfully we couldn’t get to an agreement on this important article,” said Chile’s COP President Carolina Schmidt.
That issue will be tackled at next year’s climate conferences in June in Bonn and November’s COP26 in Glasgow.
However, delegates to what turned into the longest-ever COP — it was scheduled to finish on Friday — did agree on stronger language for countries to boost their climate pledges under a Paris Agreement deadline next year. That was a crucial issue for an alliance of European, Latin American, vulnerable and island nations which faced off against a grouping of emerging economies like India, China, Brazil and Saudi Arabia.
The final outcome was a trade-off where rich countries accepted language to review their commitments up to 2020, and emerging economies softened their resistance to more ambitious calls for higher climate goals.
However, developed nations watered down any calls for new financial support for vulnerable nations — a major disappointment for them.
“Unfortunately, the new text we adopted this morning does not reflect anything near what we would have wanted. Nevertheless, it does make clear what we all agreed in Paris, which is that next year is a year of delivery,” said Tina Stege, the Marshall Islands’ climate envoy.