Rift between Germany and Brazil stalls work on carbon market 鈥� report
Bloomberg
A dispute pitting two groups of nations led, respectively, by Germany and Brazil is holding up work on creating a global market for trading carbon pollution, which is one of the pillars of the Paris Agreement on climate change,聽. Germany, along with the European Union and industrialised countries, says that聽developing nations may 鈥渃reate too many loopholes鈥� with Brazil鈥檚 proposal for the market鈥檚 rules. Germany wants a completely new system with a 鈥渃lean and uniform鈥� design, environment state secretary Jochen Flasbarth told Bloomberg.
Decisions and negotiations on the 鈥渕arkets article鈥� (Article 6 Paris Agreement) had been postponed to 2019 when the rulebook for the Paris Agreement was hammered out at the COP24 climate conference in Katowice in December.
