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ARTICLE · 20 JANUARY 2025

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Summary Of COP 29: Baku, Azerbaijan

Dhir & Dhir Associates
Dhir & Dhir Associates
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Dhir & Dhir Associates

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COP29, held in Baku, Azerbaijan, marked a significant milestone in global climate action by setting ambitious goals for climate finance and finalizing mechanisms for the carbon markets under Article 6

IndiaEnvironment

A Comprehensive Overview of UNFCCC COP 29 Outcomes and Global Climate Action

SUMMARY

1.

About COP 29

COP29, held in Baku, Azerbaijan, marked a significant milestone in global climate action by setting ambitious goals for climate finance and finalizing mechanisms for the carbon markets under Article 6 of the Paris Agreement. The conference established the New Collective Quantified Goal (NCQG) to triple annual climate finance for developing nations to $300 billion by 2035, while also emphasizing adaptation and Indigenous-led strategies. Despite these advancements, many criticized the commitments as insufficient, reflecting the challenges of balancing diverse global priorities.

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