Source: The Indian Express

Details of new carbon market postponed to next summit; after objections over draft agreement, final text lacks specifics

The longest-ever climate conference delivered probably the weakest outcome ever. The two-week Madrid climate conference could produce an agreement only after removing everything that any country objected to from the final text, and postponing all decisions on the only major agenda item it had to finalise.

After several countries rejected the draft agreement texts that were prepared on Saturday morning, the conference had little option but to remove all contentious phrases and provisions, and produce an agreement that was mired in generalities and lacked any specific decisions.

The issue of framing rules for setting up a new carbon market under Paris Agreement, the only big issue to be finalised in Madrid, was deferred entirely to next year, as no country was willing to budge from their stated positions.

UN Secretary General Antonio Guterres echoed the mood of many after the conference, saying in a statement: “I am disappointed with the results of COP25 (the 25th edition of Conference of Parties to the UN Framework Convention on Climate Change, the official name of Madrid talks). The international community lost an important opportunity to show increased ambition on mitigation, adaptation and finance to tackle the climate crisis. But we must not give up, and I will not give up.”

Content retrieved from: https://indianexpress.com/article/world/longest-un-climate-talks-end-with-no-decision-about-key-issue-on-agenda-6168890/.