We are a week away from the 29th Conference of the Parties of the United Nations Framework Convention on Climate Change, commonly called COP29. World leaders and climate experts will gather in Baku, the capital of Azerbaijan for the 12-day conference starting November 11 and collectively discuss global efforts to combat climate change.
COPs are held annually, and the Baku edition is expected to heavily focus on climate finance.
One crucial area of concern expected to be discussed at COP29 is the New Collective Quantified Goal. Mukhtar Babayev, Azerbaijan’s Minister of Ecology and Natural Resources and the President-Designate of COP29, called this goal the “centrepiece” of the upcoming climate conference.
The New Collective Quantified Goal builds on the previous $100 billion commitment which was finalised at COP15, the Copenhagen conference in 2009. According to the previous commitment, developed countries promised to mobilise $100 billion annually to help developing countries mitigate the impact of climate change. This was valid until 2020 and was extended until 2025. However, the goal fell short of meeting its targets. In fact, according to a report by the Organisation for Economic Cooperation and Development released on May 29, 2024, the $100 billion goal was crossed for the first time in 2022.
The idea to set up the new collective quantified goal was first introduced at the 2015 COP21 in Paris. The participating members decided to finalise this goal before 2025, which is when the Copenhagen goal expires.
We spoke to Harjeet Singh, Global Engagement Director for the Fossil Fuel Non-Proliferation Treaty Initiative, to understand this better.
This week’s Climate Hope is the Chennai Urban Farming Initiative, a project to utilise rooftops and vacant urban spaces of Chennai for vegetable gardening. The project was conceptualised in 2018 as part of the city’s resilient strategy.
Script and presentation: Priyali Prakash
Video: Zeeshan Akhtar
Editing: Aniket Chauhan
Published - November 05, 2024 09:07 pm IST
