Donald Trump’s election as US president is disrupting international initiatives on climate change and taxation, with Argentina’s President Javier Milei threatening to block a G20 communique over objections related to taxation of the super-rich and gender equality. Diplomats at the summit in Brazil are struggling to reach a consensus on climate finance and geopolitical issues, as Milei’s alignment with Trump raises concerns about a potential exodus from agreements on global warming. The Argentine government’s opposition to the draft communique follows Milei’s meeting with Trump and reflects a shift in global cooperation dynamics, as leaders grapple with the implications of Trump’s presidency on international relations and agreements.
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Kick-start for carbon credit market after loose rules agreed at COP29
Roula Khalaf, Editor of the FT, highlights stories in Unlock the Editor’s Digest, including the UN climate summit's final deal on carbon trading markets after almost a decade of negotiation. The agreement allows countries and companies to trade credits for emissions cuts, with oversight to prevent double-counting. Despite concerns about greenwashing and lack of net-zero alignment, the market could help finance climate needs in poorer countries. Full Article
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