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Today, November 11, 2024, marks the beginning of the 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, running through November 22. This crucial event unites global leaders, policymakers, scientists, and activists to tackle the escalating climate crisis and develop strategies to mitigate its impacts.

Objectives of COP29

COP29 is dedicated to intensifying global efforts to keep temperature rise within 1.5°C above pre-industrial levels, as set by the Paris Agreement. Its key objectives include:

• Climate Finance: Establishing a new collective goal to provide financial support to developing nations for their climate adaptation and mitigation efforts.
  
  
• Enhanced Nationally Determined Contributions (NDCs): Encouraging countries to submit more ambitious plans to reduce greenhouse gas emissions.
  
  
• Operationalizing the Loss and Damage Fund: Finalizing mechanisms to compensate vulnerable communities adversely affected by climate change.
  
  
• Advancing Carbon Market Mechanisms: Implementing Article 6 of the Paris Agreement to facilitate international cooperation through carbon markets.
  

Venue and Host Country

The 29th United Nations Climate Change Conference (COP29) is being held in Baku, the capital of Azerbaijan. Azerbaijan’s selection as the host has sparked discussions due to its significant role as an oil and gas producer. Critics argue that hosting a climate conference in a nation heavily reliant on fossil fuels presents a paradox, potentially undermining the conference’s objectives. However, proponents suggest that this setting offers an opportunity to engage fossil-fuel-dependent countries in the global transition towards renewable energy.

Major Agendas

The conference will focus on several critical issues:

• Climate Finance: Discussions will center on mobilizing at least $1 trillion annually to assist poorer nations in combating climate change. Proposed funding sources include taxes on oil companies, flights, and shipping.
  
  
• Mitigation and Adaptation: Strengthening commitments to reduce emissions and enhance resilience against climate impacts.
  
  
• Loss and Damage: Operationalizing the Loss and Damage Fund to support countries experiencing irreversible climate-related losses.
  
  
• Carbon Markets: Finalizing rules for international carbon trading to promote cost-effective emission reductions.
  
  

India’s Participation and Focus

India is poised to take a proactive stance at COP29, focusing on several key areas:

• Climate Finance Accountability: India will urge developed nations to honor their financial commitments, ensuring that developing countries receive the necessary support for their climate initiatives.
  
  
• Protection of Vulnerable Communities: The delegation will advocate for robust mechanisms to safeguard communities most affected by climate change, emphasizing the need for equitable adaptation strategies.
  
  
• Equitable Energy Transition: India aims to promote a balanced approach to energy transition, considering the developmental needs of emerging economies while advancing global climate goals.
  
  

Leading the 19-member Indian delegation is Kirti Vardhan Singh, Union Minister of State for Environment, Forest, and Climate Change. India’s national statement is scheduled for November 18-19. As COP29 unfolds, the global community anticipates meaningful progress in addressing the multifaceted challenges posed by climate change, with a focus on actionable commitments and collaborative solutions.