COP25, the 25th United Nations (UN) climate talks, in Madrid was a huge disappointment. As I understand it, the talks had two main goals: to seek new commitments for further drastic cuts in emissions of greenhouse gases beyond that promised in Paris‘15; and to agree on a set of regulations for new international carbon markets.
The theme of the meeting was: “Tiempo de actuar, ” i.e. time for action; its logo being a clock, showing a quarter to 12. Action? The meeting was anything but: it only managed a weak and watered-down commitment to cut greenhouse gas emissions; while the regulations for new global carbon markets had to be deferred to COP26, Glasgow in November 2020.