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Climate Adaptation

Carbon Market Talks Stumble at COP26 on How to Use the Cash

  • Developing nations want more proceeds for climate adaptation
  • Carbon-market talks are one of the key issues at COP26
Brazilian Amazon Forest

Brazilian Amazon Forest

Photographer: FLORENCE GOISNARD/AFP
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Talks at COP26 on international carbon markets are running into an obstacle: a row over how big a share of revenues from trading should be funneled toward countries that need money to adapt to climate change.

Negotiations on carbon trading are the key benchmark of success at the Glasgow climate talks. A deal would help cut emissions, drive investment into low carbon projects, and make what’s potentially a $100 billion offset market more transparent and rigorous. Negotiators have been trying for years to pin one down, and the hope is that they may finally nail it at COP26.