The COP 25 climate negotiations were supposed to tie up loose ends relating to rulebook of the Paris Agreement, including areas like common timeframes for climate pledges, aspects of adaptation and rules around global carbon market mechanisms. However, these were not finalised and have been pushed into the next negotiating session in June 2020. This is cutting an agreement fine as the rules are supposed to apply from 1 January 2021. The batten has now passed to the UK, who will preside over the COP 26 conference in Glasgow, Scotland from the 9 to 20 November 2020.
This report by HSBC Global Research provides details and response to the outcome of the climate talks held in Madrid in December 2019.