12/15/2019, 2:02 PM (Source: TeleTrader)
more TeleTrader news

UN climate talks end with no major breakthrough

UN climate talks in Madrid finished on Sunday with no deal on carbon markets. The negotiations are postponed until next year when countries will have to come up with more ambitious goals to cut greenhouse gas emissions, in order to fulfill the terms of the 2015 Paris accord.

After two weeks of negotiations, the “high ambition coalition” made up of the EU and some smaller developing countries, hopes to put political pressure on all governments to more thoroughly commit to the 2015 Paris accord in 2020 through updates to their national climate plans.

Jennifer Morgan, Greenpeace International’s executive director commented that "the Paris Agreement may have been the victim of a hit-and-run by a handful of powerful carbon economies, but they are on the wrong side of this struggle, the wrong side of history."

Breaking the News / TF