Climate Changed
COP Carbon-Market Talks Struggle as U.S. Lines Up Behind EU
- Getting a deal on carbon trading is one of main summit goals
- It’s a tough negotiation pitting rich countries vs poor
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Talks at COP26 on international carbon markets are running into difficulties, as the U.S. lines up behind the European Union with objections to a key demand from developing countries, according to people familiar with the situation.
At issue is a proposal for a kind of transaction tax on carbon trading, with proceeds going to help nations struggling most with the ravages of climate change.