Push for carbon loopholes sends climate talks into overtime

"MADRID – Negotiations at the UN climate talks are going into extra time as diplomats are at loggerheads over commitments to boost ambition and rules to set-up a new global carbon market. 


As the second week of negotiations drew to a close, negotiators were set to work through the night on Friday to find landing zones and finalise the last unresolved rules of the Paris Agreement.

 

“We are reaching the final hours of the Cop and now is time to show the world we are capable of reaching an agreement,” Cop25 president Carolina Schmidt told negotiators. 


“The eyes of the world are on us. Our kids, the women of the world, indigenous people, our communities, the youth will not understand that we are not able to get to an agreement that is committed ambition to the world. It is our responsibility to find that agreement,” she said.


But entrenched positions have run into political deadlock, with little progress on the most contentious issues, including creating a new carbon market, known as Article 6. 


In an unusual move, Costa Rica’s environment and energy minister Carlos Manuel Rodríguez called out “Australia, Brazil and the US” for blocking progress – a reflection of the tense atmosphere of the talks.   "


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