Global | Climate finance, at the heart of COP29

Summary

With less than a month to go before world leaders convene in Azerbaijan for COP29, a pivotal topic has emerged at the core of the upcoming negotiations: finance.

Key points

• Key points:
• The New Collective Quantified Collective Goal (NCQG) will be on the agenda at the upcoming COP29, where new international resource mobilization targets, especially for climate change mitigation, will be established.
• Another key topic on the agenda is the issue of adaptation to the imminent effects of climate change on a global scale.
• Carbon markets are also on the agenda, as they are another key element in mobilizing resources for GHG emission reduction initiatives.
• A fourth key issue to be discussed in Azerbaijan is the Loss and Damage Fund for developing countries.
• Today, more than ever, the urgency to act to address the climate crisis has become clear, and the actions taken at the next COP will be crucial in defining the course of action for the years to come.

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