UNFCCC COP29: Baku, Azerbaijan
• Organized by: United Nations Framework Convention on Climate Change (UNFCCC) Conference of Parties 29 (COP29)
• Date and Venue: 11 to 22 November 2024 at Baku, Azerbaijan
• Theme: Investing in a livable planet for all
• Aim: To forge agreements that address critical global climate challenges, focusing on finance, carbon markets, and inclusivity.
COP29 Framework for action includes: –
1. Moral duty to avoid overshooting the 1.5°C temperature target of Paris Agreement
2. Two parallel pillars: enhance ambition (to ensure participation of all parties and transparency) and enable action (reflects critical role of finance o turn ambition into action)
3. To deliver inclusive outcomes based on shared solutions by ensuring participation of all the nations.

The COP29 Presidency has announced below-mentioned global initiatives/declarations under its Action Agenda: –
• Green Energy Pledge: aimed to recognize Green Energy Zones and Corridors as tools to enable energy transitions, sustainable development and increase the efficiency of clean energy for reducing dependence on fossil fuels.
• New Climate Finance Goal: New Collective Quantified Goal (NCQG) aims to significantly boost climate finance for developing countries, setting an ambitious target of USD 300 billion annually by 2035, tripling the previous goal of USD 100 billion. The funding would support developing nations in mitigating and adapting to climate impacts.
• Enhanced Climate Action in Tourism: for embracing sustainable practices, adopting innovative technologies, using clean energy, enhancing energy efficiency and waste management in tourism facilities, sustaining the conservation and health of ecosystems that serve as carbon sinks, promoting low- and zero-emission transportation options, fostering circular approaches that promote sustainable production and consumption, efficient resource use and minimizing the risk of pollution.
• Carbon Markets Agreement: To establish both UN managed and country-to-country carbon credit trading mechanisms, encouraging a transparent and efficient global carbon market.
• Water for Climate Action: to address water challenges by 2030 through enhancing sustainable and efficient use of water resources by adopting efficient management practices. Moreover, promote regulations to control pollution and help ensuring proper usage of wastewater by control on runoffs and other relevant measures.
• Reducing Methane from organic waste: reducing methane emissions in all relevant sectors, mainly in fossil energy, agricultural and waste sectors by at least 30% below 2020 levels by 2030.
• Green Digital Action: To utilize Information and Communication Technology (ICT) sector for generating comprehensive data on GHG emissions and energy consumption to enhance progress towards accurately assessing climate impacts and setting more effective climate targets.
• Hydrogen Declaration: To scale up renewable and clean energy alternatives to ensure reduced carbon & hydrogen emissions. Moreover, it aims to facilitate energy transitions and achieve near-zero greenhouse gas emissions from hydrogen production.
• Indigenous Peoples and Local Communities: COP29 emphasized the inclusion of indigenous peoples and communities in decision making process for combating climate change.
• Baku Harmoniya Climate Initiative for farmers: COP29 in collaboration with the Food and Agriculture Organization (FAO), aims to provide farmers with easier access to climate finance for adopting sustainable agricultural practices.
• Baku Climate Transparency Platform (BTP): The BTP is designed to build mutual trust and confidence among Parties, ensure support for developing countries in preparing and finalizing their reports and advancement in transparency agenda pertaining to monitor global climate change mitigation initiatives.
• Gender and Climate Change: the conference extended the Lima Work Program on Gender (LWPG) for another 10 years, reinforcing the commitment to gender equality in climate action. Discussions also highlighted the need for a New Gender Action Plan to be adopted at COP30 in Belem, Brazil.

India’s stance at COP29: –
1. India rejected the insufficient USD 300 billion NCQG pledge and a need of at least USD 1.3 trillion annually was recommended.
2. India backed the concerns of Least Developed Countries (LDC), Small Island Developing States (SIDS) and other developing nations by raising demand to developed nations for providing financial and technological support by endorsing mechanisms like the Green Climate Fund, Loss and Damage Fund etc.
COP as a platform for India: –
COP provides a global platform for India to showcase its leadership in global climate action with initiatives like the International Solar Alliance (ISA) to provide sustainable and innovative solutions for the global climate challenge.
India’s role in mitigation of climate change: –
• Net Zero Target: India aims to achieve carbon neutrality i.e. net zero emissions by 2070 by adopting sustainable development practices.
• Renewable Energy Leadership: India has set a target of 500 GW of renewable energy capacity by 2030 through clean energy initiatives such as ISA.
• Nationally Determined Contributions (NDCs): India aims to reduce the emissions intensity of its GDP by 45% by 2030 as compared to 2005 levels. Moreover, an additional carbon sink of 2.5 to 3 billion tonnes of CO2 equivalent through afforestation and reforestation initiatives would be achieved. India aims to fulfill 50% of its energy requirements from non-fossil fuel sources by 2030.
• Lifestyle for Environment (LiFE): initiative for promoting sustainable lifestyle that does not hamper environment.
Achievements of COP over the years: –
COP meetings have achieved key milestones to shape global climate policies which includes-
• Kyoto Protocol 1997: focused to reduce greenhouse gas emissions.
• Copenhagen Accord 2009: setting-up 2°C warming limit and advised developed countries to fund climate actions in vulnerable nations.
• Paris Agreement 2015: aimed to limit global warming below 2°C preferably 1.5°C.
• Glasgow Pact 2021: to reduce coal usage and phase out inefficient fossil fuel subsidies in a phased manner.
• Loss and Damage Fund 2023: for financial assistance to nations worst affected by climate change.