UN climate talks end with no deal on carbon markets

Carolina Schmidt, UN Climate Change Conference President, attends a plenary session during the ongoing climate negotiations, which have reached a deadlock, in Madrid, Spain December 15, 2019.

But the conference was expected to endorse only a modest declaration on the "urgent need" to close the gap between existing emissions pledges and the temperature goals of the 2015 Paris Agreement to tackle climate change. It had been due to finish at the two-week mark on Friday but has run on for two extra days - a long delay even by the standards of often torturous climate summits.

"COP25 demonstrated the collective ambition fatigue of the world's largest emitters," said Greenpeace East Asia policy advisor Li Shuo.

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