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December 4, 2024

COP29 triples climate finance and strengthens global unity

COP (Conference of the Parties) meetings are critical global summits where nations negotiate and implement measures to address climate change. They provide a platform to assess progress on climate goals, set new commitments, and enhance international cooperation under frameworks like the Paris Agreement. These gatherings are vital for mobilizing resources, advancing climate justice, and ensuring that global warming remains within safe limits, typically 1.5°C or 2°C. COPs also drive innovation, accountability, and support for vulnerable nations facing the brunt of climate impacts.

This year’s COP – 29, held in Baku, Azerbaijan, resulted in a breakthrough agreement to triple annual climate finance for developing countries to $300 billion by 2035 and mobilize $1.3 trillion from public and private sources. Key outcomes included operationalizing carbon markets under the Paris Agreement, advancing climate transparency, and enhancing adaptation measures. Additional milestones included gender and indigenous community representation initiatives and strengthened global cooperation to align with the 1.5°C warming goal.

Other News

November 17, 2024

JP Morgan & Natixis coalition introduces SDG reporting guidelines for companies

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May 8, 2024

Electrifying 300 Million in Africa by 2030: World Bank and AfDB Partnership

The World Bank and African Development Bank have partnered to electrify 300 million people in Africa by 2030, which could halve the number of people in Africa living without electricity access.

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