Delegates at high-stakes COP26 climate talks in Glasgow agreed on a global deal to boost climate action after last-minute wrangling. They also approved rules that would create the framework for a global carbon market. They also agreed to a set of sweeping rules on international carbon trading.
The final version of the comprehensive document named the Glasgow Climate Pact kept contentious proposals despite last-minute pushback from China and India — two of the world’s biggest emitters. That included language on reducing coal and fossil-fuel subsidies and coming back by next year with new climate targets. The proposals passed after an eleventh-hour watering down, negotiated in plain sight in the entire room.
Negotiators reached compromises on issues, including avoiding double-counting of credits and making sure a share of proceeds goes to helping developing nations adapt to a warming planet. Still, activists warned that those concessions could set back efforts to cut heat-trapping emissions.