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Carbon Markets Fail to Win Backing at UN Climate Talks (2)

Dec. 15, 2019, 12:28 PMUpdated: Dec. 15, 2019, 6:24 PM

The international effort to rein in fossil fuel pollution took a step backward this weekend after envoys at a marathon round of United Nations talks watered down language on issues they had agreed on in previous years.

The delegates from almost 200 nations left Madrid after more than two weeks of discussion, agreeing only on the “urgent need” for countries to make deeper cuts to greenhouse gases. They shelved work on adding market mechanisms as a tool for countries to meet their goals and couldn’t agree about finance needed to fix the problem.

The result undercut principles of the 2015 ...