BAKU, Azerbaijan, November 12. The first success was achieved on the opening day of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) in Azerbaijan's Baku, Trend reports.
In the heart of Baku, the dawn of a new era for our planet began to unfold.
The first day of COP29, which started in Baku, ended with the
first deal. The countries of the world adopted new UN rules for the
carbon credit market. This is a key step to help countries fulfill
their climate change commitments.
The experts believe it will pave the way for the carbon market to
exchange quality carbon credits with more established,
trade-oriented standards backed by the UN.
In addition, this agreement reached at COP29 in Baku will make a major contribution to sustainable action on climate change.
The French press illuminated the triumph of COP29 unfolding in the vibrant tapestry of Baku.
The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) opened yesterday. COP29, which is being held at Baku Stadium, will continue until November 22. It is the largest event organized by Azerbaijan to date, and the first time in the region that it is being held in Azerbaijan.
The key expectation from COP29 is to agree on a fair and ambitious New Collective Quantified Goal (NCQG) on climate finance.
A total of 14 initiatives have been put forward by the COP29 Chairmanship.
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