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🗞️ Driving the news: COP29 will be held in Baku, Azerbaijan, from November 11 to 22, 2024, and aims to be a "Truce COP," calling for a global cease-fire during the conference
• This initiative, inspired by the Olympic Games truce, seeks to promote peace and address military activities contributing 5% to 6% of global emissions
🔭 The context: Azerbaijan presented its ambitions for COP29 at a Brussels event organized with the UNDP
• Workshops are planned to help countries submit their Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs) before the conference to boost climate action momentum
🌍 Why it matters for the planet: COP29 will set a new climate finance goal to replace the unmet $100 billion annual target for developing countries
• This New Collective Quantified Goal (NCQG) will start at a floor of $100 billion, aiming to build confidence in the international climate framework
⏭️ What's next: Discussions on Article 6 of the Paris Agreement and carbon markets will continue, with an expected increase in contributions to global climate finance
• COP29 will also launch initiatives on green energy, clean hydrogen, and a Climate Investment Fund to boost private sector involvement in climate action
💬 One quote: “This is the moment of truth for the international climate community and the Paris Agreement,” said Yalchin Rafiyev, Deputy Foreign Minister of Azerbaijan
📈 One stat: Military activities contribute 5% to 6% of global emissions, highlighting the impact of the proposed global truce
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