What happened at #COP29?

The UN Climate Change Conference (COP29) took place from 11 to 22 November 2024 in Baku, Azerbaijan. With a central focus on climate finance, COP29 brought together nearly 200 countries and reached a breakthrough agreement that will:

Triple finance to developing countries, from the previous goal of USD 100 billion annually, to USD 300 billion annually by 2035.

Secure efforts of all actors to work together to scale up finance to developing countries, from public and private sources, to the amount of USD 1.3 trillion per year by 2035.

Here's a summary of the conference's key highlights.

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The UNFCCC secretariat (UN Climate Change) is the United Nations entity tasked with supporting the global response to the threat of climate change. UNFCCC stands for United Nations Framework Convention on Climate Change. The Convention has near universal membership (198 Parties) and is the parent treaty of the 2015 Paris Agreement. The main aim of the Paris Agreement is to keep the global average temperature rise this century as close as possible to 1.5 degrees Celsius above pre-industrial levels. The UNFCCC is also the parent treaty of the 1997 Kyoto Protocol. The ultimate objective of all three agreements under the UNFCCC is to stabilize greenhouse gas concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system, in a time frame which allows ecosystems to adapt naturally and enables sustainable development.

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