Spain: COP25 summit ends without deal on carbon markets

*BUGS AT SOURCE*
W/S COP25 talks in progress, Madrid
SOT, Ian Fry, Tuvalu representative: "During the consultations of the last two weeks we have had one party who has been insisting that the Warsaw International Mechanism operates solely under the Paris Agreement. Ironically or strategically this party will not be a party to the Paris Agreement in 12 months' time. This means if they get their way with the governance of the whim, they will wash their hands of any actions to assist countries which have been affected by the impacts of climate change. This is an absolute travesty and a tragedy on those affected by the impact of climate change. There are millions of people all around the world who are already suffering from the impacts of climate change. Denying this fact could be interpreted by some to be a crime against humanity."
SOT, Felipe De Leon, Costa Rica representative: "As many others have expressed, we are disappointed that we once again failed to find agreement. We engaged actively, we delivered our homeworks. And yet we didn't quite get there."
SOT, Mohamed Nasr, Egyptian delegate and Chair of the African Group: "This is a very unfortunate and disappointing decision. This is not the first one during this COP. I recall that we - the African Group - has highlighted and stressed under concerns and disappointments when it comes to agenda items that are related to finance, capacity building, technology transfer. Those are the means of implementation that countries will need to implement the Paris Agreement and the Convention. I'm really surprised when we are affirming that the importance of climate finance - we're not even agreeing in affirming the importance of climate finance. This is really becoming very worrisome for a lot of countries."
SOT, Carolina Schmidt, President of COP25 (Spanish): "Evidently, it is sad that we didn't manage to reach the final agreement. We were so close. I thank all the efforts and the long hours in trying to reach it. We were almost there. But as many of you have acknowledged in this hall, today we have concrete progress in concrete texts that make us that makes us look with hope that this mechanism is closer. A mechanism that is solid, with environmental integrity, that takes the necessities of everyone into account, that can adapt and respects diversity and the requirements of countries. We need to advance in a better and faster way. The citizens of the world are of course asking us to advance in a better and faster way."
W/S Talks ending
SCRIPT
The UN Climate Summit (COP25) ended in Madrid on Sunday with an agreement that postponed a key decision on global carbon markets until next year.
The talks went into overtime, going on for more than 36 hours past the planned end date, making COP25 the longest UN climate conference to date.
The Pacific island state of Tuvalu accused the United States - which is withdrawing from the Paris Agreement - of hindering progress. "There are millions of people all around the world who are already suffering from the impacts of climate change," said Tuvalu representative Ian Fry. "Denying this fact could be interpreted by some to be a crime against humanity."
"As many others have expressed, we are disappointed that we once again failed to find agreement," said Costa Rica representative Felipe De Leon.
COP25 President Carolina Schmidt lamented the lack of a comprehensive final agreement, saying "we were almost there."
A decision on international carbon markets - setting limits on carbon emissions and allowing the trade of emissions permits - has been deferred to COP26, which will be held in Glasgow in 2020.
Proposals to provide additional financial support for impoverished states that are already suffering and will suffer the effects of climate change were also left unresolved, partly due to US resistance.