Climate finance is set to take centre stage at the 29th United Nations Conference of Parties (COP29) to the United Nations Framework Convention on Climate Change, being held from 11–22 November 2024 in Baku, Azerbaijan. A key agenda item of critical importance to the Global South is the outcome on the newly negotiated climate finance target. Known as the New Collective Quantified Goal (NCQG) on climate finance, this target will define future annual flows of financial support from developed to developing countries.
The NCQG will replace the 2009 commitment by developed nations to provide $100 billion annually by 2020 to support climate action in developing countries—a target that has been met only once, in 2022.
In addition to finance, COP29 will feature discussions on other pressing issues, including Article 6, mitigation, and adaptation.
The Centre for Science and Environment (CSE) and Down To Earth (DTE) delegation will attend the conference in Baku from 13–24 November 2024. They will provide updates on the proceedings and in-depth analyses of the diverse themes on the table, including the NCQG, Article 6, mitigation, and adaptation.