COP25 staggers on climate change-UN envoy

The executive secretary of UN Climate Change Conference (COP25), Ms Patricia Espinosa, yesterday released a statement on the outcome of a meeting held last week in Madrid, Spain where more than 200 countries, including Uganda participated.

Ms Espinosa said the two-week meeting failed to forge agreement on some of the most critical areas in curbing climate change.

“We need to be clear that the conference did not result in agreement on the guidelines for a much-needed carbon market – an essential part of the toolkit to raise ambition that can harness the potential of the private sector and generate finance for adaptation,” Ms Espinosa said.

Carbon markets refers to a system where sectors or countries with higher emissions pay those that emit less, according to the UN Climate Change secretariat.

Ms Espinosa said developed countries have yet to fully address the calls from developing countries for enhanced support in finance, technology and capacity building to mitigate climate change.

He emphasised that high-emitting countries did not send a clear enough signal that they are ready to improve their climate strategies.

However, Ms Espinosa said at the final decision texts, the climate ambition alliance team, had 114 nations committing themselves to a climate action plan next year.

“What we need now is to focus our undivided attention on the next steps to further strengthen the trust in the multilateral process,” she added.