COP29, or the 2024 United Nations Climate Change Conference, is the 29th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC). The 2024 conference builds on previous commitments by pushing for more ambitious climate action to limit global warming to 1.5°C. Key agenda items include setting a new climate finance goal to replace the prior $100 billion annual target, operationalizing the Loss and Damage Fund to aid vulnerable countries, and enhancing national climate goals or Nationally Determined Contributions (NDCs) by 2025. A central focus of COP29 is improving the implementation of Article 6 of the Paris Agreement, which deals with global carbon markets. The host country, Azerbaijan, also introduced the Climate Finance Action Fund (CFAF), aimed at securing $1 billion annually for renewable energy projects and climate resilience in developing countries.
COP29
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