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What to watch today: Monday’s opening plenary will see statements from the top political figures present, including UN secretary general Antonio Guterres and Spain's prime minister Pedro Sánchez. It will represent an early indication of the tone of the meeting. Here's the daily programme.
Article 6: It’s the defining issue for these talks. Can countries finally conclude the rules of the Paris Agreement by agreeing how carbon markets will be governed? If it goes badly, diplomats warn, it will do lasting damage to efforts to cut emissions. First, read our Article 6 explainer. Then watch out for news throughout the next two weeks. The first drafts of new text are expected on Wednesday 5 December.
*** From We Mean Business - COP25: Time for governments to harness the zero-carbon future
The transition to a zero-carbon economy is achievable by 2050, already underway and gaining momentum. It can bring huge economic and social benefits, including jobs, growth and cleaner air, writes We Mean Business CEO Nigel Topping at the start of the UN Climate Summit in Madrid.***
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Also at Cop25:
- The push to make this a Cop about 2020 ambition grows. The chair of the least developed countries group along with the lead negotiator of the Marshall Islands have both released statements saying they will seek a formal agreement (known as a ‘Cop decision’) that countries will enhance their pledges to the Paris Agreement in 2020.
While there is a growing expectation for countries to revise upwards in 2020 and 70 governments have committed to do so, there is no binding text that says countries must enhance their pledges next year and enough legal grey area to encompass the full range of action from Australia (not a chance mate) to the Marshall Islands (iakwe, done it already).
- In a press conference on Sunday, UN secretary general Guterres said Bank of England governor Mark Carney will take on a new role as the UN’s new special envoy for climate action and climate finance.
He is set to replace former New York mayor Michael Bloomberg, who has entered the US presidential race. Carney brings knowledge of financial markets to a UN leadership structure lacking this background.
Guterres described Carney as “a remarkable pioneer in pushing the financial sector to act on climate”. His tasks will include creating a framework for financial reporting, ensure climate risks becomes a key part of the private financial sector’s decision-making process and support the transition to a net zero carbon economy.
- The US state department confirmed over the weekend that it will continue to participate in negotiations over the Paris Agreement, despite having begun the process of withdrawal. In a note to reporters, the US said it’s team would “ensure a level playing field that protects US interests”. How is it possible for the US to keep its seat at the table, even while reneging on its promises? We reported this in depth a few weeks ago.
That's it from us. Have a great day.
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