• UGI USER
  • Jun 07, 2024
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“PEACE AND CLIMATE ACTION: FOCUS OF COP-29 IN AZERBAIJAN”

Why in the news?

  • Azerbaijan aims to emphasize “peace” and “truce” at COP-29 in November, urging countries to focus on climate solutions amid ongoing conflicts and geopolitical tensions.
  • COP-29 seeks to build on COP-28’s commitments, including transitioning away from fossil fuels and achieving net-zero emissions by 2050, while addressing funding gaps for developing countries.
source:alamy

About COPs (Conference of the Parties):

  • Framework: Held under the United Nations Framework Convention on Climate Change (UNFCCC).
  • Establishment: Multinational treaty established in
  • Purpose: Official sessions where participating countries evaluate global efforts aligned with the Paris Agreement’s goal of limiting global warming to 1.5 °C above pre-industrial levels.
  • Decision-Making Body: Main decision-making body of the
  • Agenda: Adopt decisions and resolutions on various aspects of climate action, including mitigation, adaptation, finance, technology, and transparency.
Key Outcomes of COP 28 (2023):

  • Aims for achieving net zero emissions by 2050.
  • Climate Finance: Includes funding for mitigation, adaptation, and loss and damage, with a floor of USD 100 billion per year.
  • Loss and Damage Fund:Operationalizes the Loss and Damage (L&D) fund to compensate impacted countries.
  • Commitment to triple global renewable energy capacity and double energy efficiency improvements by 2030.
  • Global Cooling Pledge:Aims to reduce cooling-related emissions by at least 68% globally by 2050.
  • Declaration to Triple Nuclear Energy: Aims to triple global nuclear energy capacity by 2050.

Associated Article:

https://universalinstitutions.com/footing-the-climate-action-bill/