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Syllabus: GS 3: Environment Why in the News? Upcoming COP29 in Baku, Azerbaijan from 11 -22 November to 2024 will focus on climate finance and the carbon credit scheme, highlighting India’s initiatives and challenges in establishing a credible and efficient domestic carbon market. Introduction Climate finance and a global carbon credit system will be discussed …
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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