BAKU, Azerbaijan, November 11. Baku hosted a panel discussion within COP29 in connection with Advancing Integrity in Carbon Markets with the Paris Agreement Crediting Mechanism, Trend reports.
The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will continue until November 22, opened in Baku today.
This event is the largest planned by Azerbaijan to date and is being hosted in this region for the first time.
A top-level event - a summit of world leaders on climate action - will be held within COP29 on November 12–13.
The main expectation from COP29 is to agree on a fair and ambitious New Collective Quantitative Goal (NCQG) on climate finance.
In addition to being a top priority that creates the conditions for action, climate finance will also contribute to the 1.5°C commitment by bringing everyone together.
The UN Framework Convention on Climate Change is an agreement signed at the Rio Earth Summit in June 1992 to prevent dangerous human interference in the climate system. The acronym COP (Conference of Parties) stands for “Conference of Parties” and is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.
A total of 198 countries are parties to the Convention. Unless otherwise decided by the parties, COP is held annually. The first COP event was held in March 1995 in Berlin, and its secretariat is located in Bonn.
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