Why in the News?
The 29th U.N. Climate Change Conference, or COP29, has commenced in Baku, Azerbaijan. Dubbed as the "Finance COP," this year's summit focuses on advancing a new global climate finance target to assist countries that are most vulnerable to climate impacts. India and other Global South nations are advocating for enhanced access to financial and technological resources, essential for achieving climate goals and protecting frontline communities.
About COP29
- Venue: Baku Stadium, Baku, Azerbaijan
- Host: Government of Azerbaijan
- Conference Dates: 11th November 2024 (Monday) to 22nd November 2024 (Friday).
- Meeting Comprises: Conference of the Parties (COP 29) and Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol (CMP 19).
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About
- COP: It is the primary governing body of the United Nations Framework Convention on Climate Change (UNFCCC).
- UNFCCC:
- An international treaty was established in 1992 to provide a framework for global climate negotiations.
- Aim: To stabilize greenhouse gas concentrations at safe levels to prevent significant human-induced climate interference.
- Parties to the UNFCCC are committed to collective action to address climate change by reducing greenhouse gas emissions and enhancing climate resilience.
- Membership:
- Currently, there are 198 parties to the UNFCCC, which includes 197 countries and the European Union.
- This represents near-universal participation in the UNFCCC, showcasing a broad commitment to climate action.
- Goal of COP: Each COP session facilitates global discussions and decisions on climate policy, including financial commitments, emission reduction targets, and adaptation strategies to combat climate change.
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