> The UN climate talks in Madrid ended in stalemate on Sunday, with the negotiations running two days overtime as countries squabbled over rules for a new global carbon trading market.

> At 14 days the talks, known as COP25, set a record for the longest-ever climate negotiations, but failed to produce any agreement about the rules for trading in carbon credits.

> Jennifer Morgan, executive director of Greenpeace International, said: “Governments need to completely rethink how they do this, because the outcome of COP25 is totally unacceptable.”

[]

> Geopolitical tension and the absence of leadership from the US and China, the world’s two biggest emitters, severely handicapped the negotiations, which descended into open bickering on the plenary floor during the final hours of the talks.

> The Paris climate accord, which aims to limit global warming to well below 2C, has been signed by 197 countries in the world, but the US is in the process of withdrawing from it and will leave the pact next November.

> The EU delegation said it was disappointed that the meetings failed to find agreement on carbon markets.

For the record, though, if you ever do decide to pay for news, FT is one of a few that are actually worth the money.