Climate Talks End without Deal on Carbon Trade
Madrid, Dec. 15 (Jiji Press)--Drawn-out international climate talks ended in Madrid on Sunday without an agreement on how to regulate global carbon trading.
Participants put off a decision on the matter to a later year, following discussions at the 25th session of the Conference of the Parties to the U.N. Framework Convention on Climate Change, or COP25, which closed on the 14th day after a two-day extension.
The envisioned regulations would be part of the rules to implement the 2015 Paris Agreement for greenhouse gas emission cuts from 2020. The postponement, however, is unlikely to cause much direct impact because most of the implementation rules have been fixed.
In the carbon trading, countries that help others reduce greenhouse gas emissions would be allowed to count the reduced amounts as their own emission cuts.
The thorny point was how to tackle the problem of double counting of the reduced amounts by both sides. Brazil and India strongly opposed the proposed introduction of rules to prevent double counting.
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