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ARTICLE · 23 JANUARY 2025

A Closer Look At The Cop29 Carbon Trading Deal

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Climate finance is the lifeblood of climate action, powering the transition to a low-carbon economy, bolstering nations' resilience to climate change impacts and aiding in their recovery from climate-related disasters.

IndiaEnvironment
Rupin Chopra
Rupin Chopra
Aishwarya Rajput
Aishwarya Rajput
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Introduction

Climate finance is the lifeblood of climate action, powering the transition to a low-carbon economy, bolstering nations' resilience to climate change impacts and aiding in their recovery from climate-related disasters.
The COP29 climate conference in Baku marked a significant milestone with the finalization of rules for international carbon markets under Article 6 of the Paris Agreement formally known as New Collective Quantified Goal on Climate Finance (NCQG).1
The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), is a global gathering to address climate change issues. It was held in Baku, Azerbaijan, from November 11to 22, 2024.

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