The UN Climate Change Executive Secretary, Simon Stiell has said that the ongoing 29th Conference of the Parties (COP29) is primarily centered on discussions on actions to tackle climate change through financing and other mechanisms.
The event, which began from November 11-22, 2024, at the Baku Stadium, located in the capital city of Azerbaijan, is aimed at creating a pivotal opportunity to accelerate action to tackle the climate crisis.
Speaking at the press conference hall on Tuesday, November 12, 2024, Stiell said that the amalgamation of UN parties focuses on critical issues such as climate finance and mechanisms for loss and damage.
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According to Stiell, the discussions are aimed at enhancing support for vulnerable countries, with an agenda of topics dedicated to various aspects of climate action, such as energy, urbanization, and biodiversity.
“This is a good start because the product is over ten years of work within the process when operational, giving us more work to do a head,” he said.
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He added that the carbon markets will help countries implement their climate plans faster and cheaper, driving down emissions. That’s why they are a long way from sharing emissions this decade, but successes on carbon markets and that COP29 will help them get back in that race.
“Last night, our UN Parties agreed strong standards for a centralized carbon market under it,” Stiell said.
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This year’s COP29 is particularly notable as it has gathered a diverse group of stakeholders from nearly 200 countries to address pressing climate challenges and advance global commitments under the Paris Agreement, with an expected attendance of about 50,000 participants that include government officials, negotiators, media, and observers under the theme In Solidarity for a Green World.
