COP29 set to focus on renewed commitments to Global South.
The United Nations Climate Change Conference (COP29) is set for November in Azerbaijan. Nearly 200 nations will discuss new climate financing to aid developing countries facing climate challenges. Known as the “Finance COP,” the conference will address creating a New Collective Quantified Goal (NCQG) for climate finance. The initiative follows the unmet $100 billion annual pledge from 2009, which often included loans, adding debt burdens to many developing nations.
The conference will revisit adaptation funding, which currently lags behind emission-reduction (mitigation) investments, as well as the voluntary “loss and damage” fund established last year to address climate impacts in vulnerable nations.
Delegates will also examine national commitments to align with the 1.5°C (34.7°F) warming target set in the Paris Agreement. Many countries, facing energy security and fossil fuel dependency issues, are yet to announce adequate action plans.
As the Lord Leads, Pray with Us…
- For White House Climate Advisor Zaidi and other U.S. climate officials as they prepare for COP29.
- For wisdom for international leaders as they discuss commitments regarding climate financing.
Sources: VOA News, Barron’s
