Discussions will revolve around climate finance and a climate fund that can support mitigation projects in developing countries
The stakes are bigger than ever as the world prepares for COP29, which will take place in Baku, Azerbaijan in November. World leaders are expected to evaluate the results of the first Global Stocktake (GST) and discuss the advancements made in accordance with the Paris Agreement.
COP29 is likely to see a number of critical deliberations. Securing fresh commitments towards climate finance and negotiations around “loss and damage” are expected to be the main focus of COP29, as demands for financial support from affected and vulnerable nations continue to rise.
Accelerating the transition to renewable energy is expected to be another focus area. It is expected that COP29 will promote the use of renewable energy sources and encourage the phasing out of fossil fuels. Enhancing NDCs to keep global warming rise below the 1.5 degrees Celsius threshold will also be a highlight.