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Hello readers!

Cop25 in Madrid begins today and it is little short of a miracle. 

This was the UN climate talks that no-one wanted. First rejected by Brazil and then made homeless at the last minute by Chile as the politics of populism and inequality convulsed Latin America.

25,000 participants, who three weeks ago thought they were heading to South America, are now landing in the Spanish capital.

On Sunday, the Ifema venue was declared ready by Mexican UNFCCC chief Patricia Espinosa and the environment ministers of Chile and Spain Carolina Schmidt (who is Cop25 president) and Teresa Ribera. The official Cop25 Twitter account shared this photo of the three Latino women who will run these talks.

No matter what happens the next three weeks, to pull it all together has been a logistical marvel. It’s also a positive, collectivist gesture at a moment when nations seem more inclined to turn their backs.

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.*** 

Get in touch. Tweet us at @chloefarand and @karlmathiesen. Or email cf@climatehomenews.com or km@climatehomenews.com. And please help CHN by sharing our articles. If you want to share this newsletter it will be posted on the CHN website later each morning.

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. 

The Cop25 Bulletin is supported by the We Mean Business Coalition
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