World

Longest UN climate talks end with no deal on carbon markets

PTI

The longest UN climate talks held here ended on Sunday with no deal on carbon markets as sleep-deprived delegates from almost 200 countries, after two weeks of marathon negotiations, failed to come up with more ambitious targets to cut greenhouse gas emissions to fulfil the terms of the 2015 Paris agreement.

The negotiations which extended till Sunday saw no agreement on major issues such as Article 6, loss and damage, and long term finance.

Despite clear warnings from scientists through 2019, record levels of protests and severe climate impacts, the COP25 talks held between December 2 and 13 saw major differences between countries that are proving hard to resolve.

According to experts, few countries came to this year's talks with updated plans to reach the Paris goals.

The observers blamed G20 countries for the poor outcome.

Leading economies were faulted for their complacency and their failure to deliver more support to vulnerable nations in the face of brutal impacts and push for a tougher collective response in 2020 when new climate plans are mandated under the Paris agreement.

The EU tried to play its role as bridge-builder between developing and developed countries. However, it will take a major diplomatic push and bigger leadership alliance to deliver substantial outcomes at COP26 in Glasgow next year.

COP25's final decision text "re-emphasises with serious concern the urgent need to address the significant gap between the aggregate effect of parties' mitigation efforts in terms of global annual emissions of greenhouse gases by 2020," according to the final draft.

It also "stresses the urgency of enhanced ambition in order to ensure the highest possible mitigation and adaptation efforts by all parties".

Negotiators failed to reach an outcome on carbon markets. In the final hours of negotiations, over 30 governments joined behind the San Jose Principles in an effort to preserve the integrity of carbon market rules and prevent loopholes and the ability for double-counting carbon credits, it said.