"Talks on creating a global carbon market ran into new obstacles, highlighting how difficult it will be to break a six-year deadlock on an issue seen as a key benchmark of success for COP26.
Negotiations on carbon trading exposed fault lines late Thursday with countries disagreeing on how to account for emissions credits that get sold in the global market, according to people familiar with the matter, who asked not to be identified because the information is private. Talks will continue on Friday -- with less than 24 hours to go until the summit is due to wrap up.
Getting a deal on rules for global carbon trading would mark a major success for this round of climate talks as negotiators have tried and failed to nail an agreement since 2015. The hope is that an accord on trading can help lower emissions, funnel cash to poor countries and boost investment in clean energy technology."
Ewa Krukowska, Isis Almeida, and Jennifer A Dlouhy report for Bloomberg Green November 11, 2021.
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