The 29th Conference of the Parties (COP 29) to the United Nations Framework Convention on Climate Change (UNFCCC) is a pivotal event aimed at tackling global climate challenges, and it took place from November 11 to 22, 2024, in Baku, Azerbaijan
COP 29
COP 29 is the 29th annual meeting of the Conference of the Parties (COP), the governing body of the UN Framework Convention on Climate Change (UNFCCC), which unites 198 members to review emissions, assess climate progress, and shape global climate policies.
Key Highlights of COP 29 Summit:
- Theme:
- “Investing in a Livable Planet for All”
- Focus on innovative solutions, financial support, and inclusive partnerships to achieve climate goals.
Focus Areas for COP 29:
- Enhancing climate finance for developing nations.
- Accelerating technology transfer.
- Building capacity for effective climate action globally.
Key Milestones of COP:
- Kyoto Protocol (1997): COP3, 4.2% emissions reduction by 2012.
- Copenhagen Accord (2009): COP15, 2°C warming limit, financial support commitments.
- Paris Agreement (2015): COP21, NDCs to curb global warming.
- Glasgow Pact (2021): COP26, reduction of coal use and fossil fuel subsidies.
- Loss and Damage Fund (2023): COP28, financial assistance for vulnerable nations.
India at COP 29
- Role: Advocates equity, climate justice, and increased financial/technological support for developing nations.
- Key Commitments:
- Net-Zero by 2070: Balancing development with sustainability.
- Renewables: 500 GW capacity by 2030; leads International Solar Alliance (ISA).
- NDCs: 45% GDP carbon intensity reduction, 50% energy from renewables by 2030.
- LiFE Initiative: Promotes sustainable, eco-friendly lifestyles globally.
Challenges:
- Climate Finance: $100 billion annual goal unmet; NCQG remains unresolved.
- Mitigation Gaps: Disparities in action between developed and developing nations.
- Youth Pressure: Demanding bold action, opposing fossil fuel influence.
Key Initiatives at COP29, Baku
- $300 Billion Climate Finance: Pledged annually by developed nations by 2035 to support developing countries.
- Global Carbon Market: UN-managed system for trading verified carbon credits to reduce emissions.
- Baku Declaration on Tourism: Focused on sustainable tourism practices to minimize environmental impact.
- Climate Finance Action Fund (CFAF): $1 billion annual contributions from fossil fuel producers for renewable energy and disaster response.
- Baku Human Development Initiative: Investments in education and health to enhance climate resilience, especially for youth.
- Climate Transparency Initiatives: Enhanced global systems for tracking and boosting climate action and finance
