The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) begins this Monday in Baku, Azerbaijan, with one of the main objectives being to determine financing for climate action.
The meeting, which will last until the 22nd, should be marked by negotiations on the so-called “New quantified collective objective” (NCQG in its acronym in English).
The purpose is establish a new value for North-South financial aid for the fight and adaptation to climate changes, a year after the unprecedented agreement between countries around the world in favor of a “transition” away from fossil fuels at COP28.
It is also intended achieve emissions reduction commitments by 2030after the latest UN report on greenhouse gas (GHG) emissions predicted global warming of 3.1 degrees Celsius (°C) by the end of the century, if current policies are maintained.
The Paris Agreement determined that reducing GHG emissions should prevent global temperatures from increasing more than 2ºC (degrees Celsius) above pre-industrial values, and preferably not increasing beyond 1.5ºC.
The agenda also includes Global assessment of progress in reducing emissions since the Paris Agreement. and an agreement on the Global Adaptation Goal (GGA) is expected to be possible by 2025.
Delegations from nearly 200 countries will be present at the summit, which is expected to attract some 50,000 participants.
COP29 will be marked by the absence of the presidents of the United States and Brazil, as well as the president of the European Commission, Úrsula von der Leyen, among the leaders of several countries that traditionally participate in the negotiations.
Portugal will be represented by the president of the Institute for the Conservation of Nature and Forests (ICNF).
Source: Observadora
