Global carbon trading deal agreed even as US warns climate fight may be on ‘back burner’

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Global carbon trading deal agreed even as US warns climate fight may be on ‘back burner’
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Biden diplomat at COP29 says Trump’s election is ‘bitterly disappointing’ for those worried about global warming

A deal to launch multibillion-dollar carbon markets governed by UN rules on emissions has been agreed at the COP29 climate summit, as countries attempt to show the fight against climate change will persist despite last week’s election of Donald Trump. In the first symbolic negotiating breakthrough, the COP29 presidency pushed successfully on Monday for countries to adopt rules on a global market for trading instruments representing carbon emissions.

” During the election campaign, Trump signalled support for unrestrained oil and gas expansion, with a promise to “drill, baby, drill”. The US Environmental Protection Agency was an immediate target, with the appointment on Monday of former New York congressman Lee Zeldin, who was among the Republicans in Congress who voted against certifying the 2020 election results. In a run for the New York governor’s race in 2022 vowed to reverse a fracking ban imposed by Democrats.

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