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progress and challenges at cop29 on climate financing and carbon markets

At COP29 in Baku, an agreement was reached on carbon market regulation under Article 6 of the Paris Agreement, but the New Collective Quantified Goal (NCQG) faced criticism for insufficient funding for developing nations, setting a target of at least $300 billion annually by 2035. While some progress was made, key negotiations on fossil fuel phase-out and just transition initiatives stalled, leaving many questions unanswered as the focus shifts to COP30 in Brazil, where biodiversity and climate loss will be central themes.
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01:00 29.11.2024
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