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Policy & Regulation

UN climate summit fails to set carbon market rules

The COP24 talks represent a setback for the establishment of a global carbon price as they failed failed to produce an agreement on comprehensive trading guidelines The COP24 talks represent a setback for the establishment of a global carbon price as they failed failed to produce an agreement on comprehensive trading guidelines.
By Alessandro Vitelli 18 December 2018 World / Policy & Regulation 0 33722
A plenary session at COP24. (┬ęcop24.gov.pl)

The end of the UN’s COP24 climate summit in Katowice in Poland last weekend saw the adoption of a set of rules to implement the Paris agreement, which comes into effect in 2020. But despite last-ditch efforts to overcome opposition from a small group of countries, the talks failed to agree comprehensive guidelines for carbon trading.

The result is that market rules, which were formally established in Paris in 2015, will be delayed by at least another year and an opportunity for early...