Talks to establish carbon offset markets to allow countries to buy credits to partly achieve their climate pledges are set to drag on beyond the COP27 summit and into next year, according to
SHARM EL-SHEIKH, Egypt (Reuters) - Talks to establish carbon offset markets to allow countries to buy credits to partly achieve their climate pledges are set to drag on beyond the COP27 summit and into next year, according to observers and a negotiator in the U.N. talks.
Held in Egypt, COP27 will bring up key issues for African and Arab states, including how to compensate the most vulnerable for the loss & damage caused by climate change. But the talks take place in a difficult context and little progress is expected
With the Paris Agreement rules in place, the UN climate talks are switching focus from process to implementation. But geopolitics and disputes over finance cast a pall.