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Madrid Talks Leave Carbon Pricing To COP26

The UN climate talks in Madrid  ended recently with agreement to postpone a decision on the sixth article of the Paris climate accord. COP25 had been supposed to work out rules for a new global carbon market and create a system that would allow countries to pay each other for projects that reduce emissions. That task will now have to be taken up at COP26 in November 2020.

Delegates from the almost 200 nations at COP25 endorsed a declaration to help poor countries suffering the effects of climate change but didn’t allocate any new funds to do so. The final agreement highlighted the “urgent need” to cut greenhouse gases in line with the goals of the 2015 Paris agreement. And many delegates resisted calls to enhance pledges to cut greenhouse gases next year.

The UK, which in June became the first major economy in the world to pass laws to end its contribution to global warming by 2050, will host COP26 – in Glasgow, Scotland. Newly elected British Prime Minister Boris Johnson plans to create a new government department to tackle climate change.

 

 

source: World Nuclear News