Baku TV prepared a report on the 13th day of COP29 within the framework of the “COP-BAKU” project.
It was reported that during the discussions on the last day of COP-29, within the framework of the next stage of national climate plans, the European Union and some 25 countries committed to not building coal-fired power plants. floors.
The world’s largest coal-consuming countries, China and India, as well as the United States, have so far ignored this document. Climate activists organized a protest at the site of COP29.
Participants in the action chanted slogans calling on developed countries to fulfill the promise of climate finance. They accused Western countries of not showing activity for a productive end to the COP29 negotiations. Long and intense discussions on determining climate finance continued late into the night. Although some of the documents were approved in the first part of the closing session, further discussions for the final decision continued late into the night.
A new climate goal was adopted at the closing plenary session of COP29. The target of jointly mobilizing funds amounting to $100 billion a year for developing countries for climate action by developed countries will be ensured to reach at least $300 billion by 2035.
The announcement of the new target amount was received with applause. One of the biggest successes was the adoption of the decision at COP29 to fully operationalize the Loss and Damage Fund, which countries in need of support are eagerly awaiting.
Currently, the total amount of financial support pledged to the Fund exceeds US$731 million. Reaching agreement on all provisions of Article 6 of the Paris Climate Agreement is also considered one of the main results achieved. The approval of this article will help countries save $250 billion in National Climate Action Plans. This concludes the discussions in this direction for 10 years.
More details in the Baku TV material:
