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international news

CLIMATE TALKS BREAK UP WITH NO task facing the UK, which takes over the
presidency of the next UN climate talks
AGREEMENT ON CARBON TRADING in Glasgow next year.
Geopolitical tensions and the
low profile of the US and China, the
world’s two biggest emitters, severely
handicapped the negotiations, which
descended into open bickering on
the plenary floor in the final hours.
Delegates appeared to be exhausted
after all-night negotiating sessions as
negotiators raced to salvage a deal.
The Paris climate accord, which aims
to limit global warming to well below
2°C, has been signed by 197 countries.
But the agreement operates only by
consensus and the original 2015 deal
left many details to be worked out in
future climate summits — a task that
has been made much more complicated
by fraying multilateralism and US
opposition to the climate deal.
The US is in the process of
COP25 HAD A DISAPPOINTING CONCLUSION withdrawing from the Paris accord on
the instructions of President Donald
RECENT UN CLIMATE TALKS in net zero emissions targets. However, Trump, and this year is the last it will
Madrid ended in stalemate, with the none of that translated into measurable participate as a signatory.
negotiations running two days over results at the negotiations, reports The withdrawal of the US, and efforts
time as countries squabbled over rules The Financial Times. by Brazil and Australia to water down
for a new global carbon trading market. Jennifer Morgan, Executive Director the outcome, all led to a result that
The COP25 talks ran for 14 days and of Greenpeace International, said the many countries said was dismaying.
set a record for the longest-ever climate outcome was “totally unacceptable”. António Guterres, UN Secretary-General,
negotiations, but failed to produce any “It is not adequate to just come back said he was disappointed with the result
agreement on trading in carbon credits. next year and say you are going to do of the COP25 talks. “The international
This year, global carbon dioxide more,” she said. “Governments need to community lost an important
emissions rose to record levels, millions completely rethink how they do this.” opportunity to show increased ambition
of students marched in climate protests The failure of COP25 to agree on the on mitigation, adaptation and finance to
and leading economies adopted new carbon market rules will complicate the tackle the climate crisis,” he said.

GREECE, ISRAEL, CYPRUS SIGN GAS PIPELINE DEAL

so-called EastMed project, a $6 billion from gas reserves in the south-eastern
pipeline project that is expected to Mediterranean,” Greek Energy Minister
initially carry 10 billion cubic meters Kostis Hatzidakis said.
of gas per year from Israeli and Cypriot A number of large gas fields have
waters to the Greek island of Crete, been discovered in the eastern
on to the Greek mainland and into Mediterranean Levant Basin since
Europe’s gas network via Italy. 2009. However, the region lacks
The pipeline will connect recently significant oil and gas infrastructure
discovered, and to-be-found, gas fields and political relations between the
in the eastern Mediterranean basin countries – including Cyprus, Greece,
with European markets through Cyprus, Egypt, Israel, Lebanon and Syria – are
A NUMBER OF LARGE GAS FIELDS HAVE BEEN Greece and Italy, according to Reuters. strained on a number of fronts.
DISCOVERED IN THE EASTERN MEDITERRANEAN The project is being developed by The signing for the EastMed pipeline
IGI Poseidon SA, a joint venture of came weeks after Turkey and Libya
GREECE, CYPRUS AND ISRAEL have Greece’s state-owned supplier Depa SA struck an accord on sea boundaries
signed a deal to build a 1,900km subsea and Edison SpA. Italy is set to sign the in the Mediterranean, a move which
pipeline to carry natural gas from agreement at a later date. Greece, Cyprus and Israel opposed.
the eastern Mediterranean’s rapidly “With Italy taking part, the project Analysts say that pact could present
developing gas industry to Europe. will take its final shape as the most a barrier to the proposed pipeline,
European governments and Israel dynamic option to guarantee the which would have to cross the planned
last year agreed to proceed with the European Union’s energy security Turkey-Libya economic zone.

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