The 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), known as COP29, officially began in Baku, the capital of Azerbaijan, on Monday.
This year's conference is particularly significant as it seeks to establish a new climate change funding goal, aiming to replace the current target of mobilizing and providing $100 billion annually by developed nations to support developing countries.
In addition to funding, COP29 will address critical issues such as the global carbon trading market and the transition from fossil fuels to sustainable energy sources. These topics are pivotal in shaping the future of global environmental policies and economic practices.
Mukhtar Babayev, the COP29 president-designate and Azerbaijan's Minister for Ecology and Natural Resources, emphasized the importance of the conference. \"COP29 is a moment of truth for the Paris Agreement, the unmissable moment to chart a new path forward for everyone,\" he stated. \"It will test our commitment to the multilateral climate system. We must now demonstrate that we are prepared to meet the goals we have set ourselves.\"
Reference(s):
cgtn.com
