United Nations Climate Change Conference (COP29) in Baku, Azerbaijan

This year’s climate change conference in Baku primarily focused on international financing of climate-related issues. The key points of the final declaration include:

• An increase in public financing of climate-related issues for developing countries from the current $100 billion USD per year to at least $300 billion USD per year by 2035,
• A rise in funding from all sources, both public and private, to at least $1.3 trillion USD per year by 2035,
• Standards and rules for international carbon markets (Article 6.4) that enable new financial flows to the Global South.

These are steps in the right direction to meet the legitimate expectations of the Global South AND create the prerequisites for successful climate action. The conference certainly contributes to greater realism regarding the necessity of international cooperation and financing. Even though many questions remain unanswered and developing countries would have preferred larger sums, there is hope that the coming weeks and months will bring further steps toward a viable overall concept for solving the climate challenge. With the GES book “ALL IN!”, a proposal exists for what this could look like

Here you can read the report on COP29 by Estelle Herlyn (GES), who attended the conference in Baku in person:

Read the Climate Conference Report

Bildquelle: FAW/n