Complex [Pd(kappa(2)-P,O-{2-(2-MeOC6H4)(2)P}-C6H4SO3)Me(dmso)] (1) was investigated as a single component catalyst for the copolymerization of ethylene with norbornene affording P(E-co-N) in excellent yields and molar masses significantly higher than those of polyethylene. Copolymer molar masses increased with N concentration. Determination of microstructure and reactivity ratios revealed a strong inherent tendency to form alternating copolymers. The ability of palladium complex 1 to effectively copolymerize ethylene with functionalized norbornene derivatives was also demonstrated.