Climate Negotiations at COP29

The 29th Conference of the Parties (COP29) to the UNFCCC was held in Baku, Azerbaijan, from November 11-24, 2024 (extended by two days).

  • Nearly 200 countries participated, negotiating crucial agreements on climate finance, adaptation, and mitigation.

Key Highlights

  • New Collective Quantified Goal (NCQG): Committed to tripling climate finance for developing countries to USD 300 billion annually by 2035, with plans to scale total finance (public and private sources) to USD 1.3 trillion annually.
  • Carbon Market Mechanisms under the Paris Agreement:
    • Article 6.2: Enables bilateral agreements between countries for trading carbon credits with mutual flexibility.
    • Article 6.4: Establishes a UN-managed centralized carbon emissions offset and ....
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