Here we are again. The 26th UNFCCC meeting to forge global consensus for reducing greenhouse gas emissions. Expectations are high despite the challenges – geo-politics, Covid-19, vested interests. They should be high. COPs are a moment of global attention, accountability and collective agreement, however understanding the true value of such moments requires looking beyond the negotiated text. Why? Because the ‘near negotiation space’ that governments enter into bi-laterally and in ‘climate clubs’ is hugely powerful, and so are the commitments from non-state actors such as businesses, financiers, cities, states and regions. There are now over 4470 companies and 250 financial institutions in the United Nations’, Race to Zero. Together, the businesses, investors and governments (national and sub- national) committing to net-zero represent over 80% of global GDP, affirming there has never been a stronger and clearer signal of public and private support to address the pollution of our shared climate.