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Why in the News? The Loss and Damage Fund (LDF), created at COP27 (2022) to support developing nations facing climate disasters, faces uncertainty as the U.S. withdraws its financial commitment. This raises concerns over the future of global climate finance and justice. Background and Purpose: Established at COP27 (2022) to assist developing nations facing climate-related …
Read MoreSyllabus: GS-2: Groupings & Agreements Involving India and/or Affecting India’s Interests , Effect of Policies & Politics of Countries on India’s Interests , International Treaties & Agreements GS-3: Environmental Pollution & Degradation Focus: COP29 in Baku focused on climate finance negotiations, with developing nations calling for a significant increase in financial support from developed countries. …
Read MoreSyllabus: GS-3: Conservation , Groupings & Agreements Involving India and/or Affecting India’s Interests Focus: The climate conference in Baku, Azerbaijan, approved standards to establish an international carbon market by next year, reviving discussions on carbon markets as a tool to limit global emissions and combat climate change. Understanding Carbon Markets: Definition: Carbon markets facilitate the …
Read MoreWhy in the News? Azerbaijan, the host of COP29, announced the launch of a Climate Finance Action Fund (CFAF) to support developing nations’ climate efforts. The fund aims to collect voluntary contributions from fossil fuel-producing countries and companies. The main agenda of COP29 is to finalize a climate finance agreement post-2025, requiring developed nations to …
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