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<!DOCTYPE html><html lang="en"><head><meta charSet="utf-8"/><meta name="viewport" content="width=device-width, initial-scale=1, maximum-scale=1, user-scalable=no"/><link rel="stylesheet" href="/_next/static/css/52c414d4a61f1814.css" data-precedence="next"/><link rel="preload" as="script" fetchPriority="low" href="/_next/static/chunks/webpack-a3151ab2e3775cd1.js"/><script src="/_next/static/chunks/91369c9b-1b1416fb4dba9f17.js" async=""></script><script src="/_next/static/chunks/8573-ea33627c9d245188.js" async=""></script><script src="/_next/static/chunks/main-app-22a5c31fbe03763c.js" async=""></script><script src="/_next/static/chunks/4325-8602d45df3f195f8.js" async=""></script><script src="/_next/static/chunks/2707-23904063a899bf57.js" async=""></script><script src="/_next/static/chunks/8420-b35976f6f0af2952.js" async=""></script><script src="/_next/static/chunks/6062-d766f76fbc5eda42.js" async=""></script><script src="/_next/static/chunks/4486-36f0b79c49cbeda2.js" async=""></script><script src="/_next/static/chunks/3326-796a91c352abc17c.js" async=""></script><script src="/_next/static/chunks/1617-97f61b4e4914fbad.js" async=""></script><script src="/_next/static/chunks/9227-96e88d996b43937e.js" async=""></script><script src="/_next/static/chunks/6498-742094d77f408768.js" async=""></script><script src="/_next/static/chunks/320-1bd6eaaed4d76306.js" async=""></script><script src="/_next/static/chunks/5013-97be5dec6fac5f22.js" async=""></script><script src="/_next/static/chunks/4523-2b708c4a77f70c39.js" async=""></script><script src="/_next/static/chunks/app/%5Blocale%5D/layout-705f0667a01170f4.js" async=""></script><script src="/_next/static/chunks/2235-70a1b5ff50f2ba4b.js" async=""></script><script src="/_next/static/chunks/1197-0933a01f9ae5de8c.js" async=""></script><script src="/_next/static/chunks/8962-a39c97770acf19b9.js" async=""></script><script src="/_next/static/chunks/7661-faa689d0bc73ca24.js" async=""></script><script src="/_next/static/chunks/app/%5Blocale%5D/media-hub/news/%5Bslug%5D/page-e89a75696407158b.js" async=""></script><link rel="preload" href="https://cdn.userway.org/widget.js" as="script"/><link rel="preload" href="https://www.google.com/recaptcha/api.js?render=6LdO7WMqAAAAANgKnv-yHUER-julKvvU53twLEVy" as="script"/><link rel="preload" href="https://www.googletagmanager.com/gtag/js?id=G-GE5V9KCRLF" as="script"/><title>COP29 Baku Initiative for Climate Finance, Investment, and Trade (BICFIT) presented at the WTO Public Forum 2024, Geneva, Switzerland</title><meta name="description" content="The Republic of Azerbaijan hosted a COP29 session at the WTO Public Forum in Geneva, Switzerland. The session featured the participation of the WTO Secretariat, UN Trade and Development, the International Trade Centre, and the International Chamber of Commerce. Organized as part of the WTO Public Forum on 13 September 2024, the session provided an update on COP29, scheduled to take place in Baku, Azerbaijan, from 11 to 22 November 2024. The audience was informed of the COP29 Presidency’s preparations for Thematic Days, Presidency-led global initiatives, trade priorities and initiatives, and the Trade and Investment House – a dedicated space for exploring how trade can contribute to addressing climate challenges. Elmar Mammadov, Senior Negotiator and Co-Leader of the Action Agenda Initiatives Team from the COP29 Presidency, informed participants at the WTO Public Forum that the Presidency will host the first-ever Climate Finance, Investment, and Trade Thematic Day as an integrated event. The Trade and Investment House will be set up in both the blue and green zones, organized by the Ministry of Economy of Azerbaijan (AZPROMO) with support from partner institutions, including the WTO, UN Trade and Development, the International Trade Centre, and the International Chamber of Commerce. Mammadov introduced to the global trade community the COP29 Presidency-led Baku Initiative for Climate Finance, Investment, and Trade (BICFIT), a new partnership aimed at enhancing coherence by integrating climate finance, investment, trade, and sustainable development agendas. BICFIT will provide a global platform for supporting policy development, sharing knowledge, promoting climate investment, and co-creating solutions through dialogue. It will contribute to ensure that climate finance, investment, and trade are fully embedded in national climate policies and development plans, while also exploring ways to strengthen investment promotion institutions to attract climate-positive investments. BICFIT will encourage the creation of national, regional, and sub-regional platforms to enhance the climate finance, investment, and trade nexus. This initiative will also support the design, structuring, and preparation of concrete, bankable climate projects, aligning climate action with development objectives at more targeted, local levels. To foster collaboration and shared solutions, regular BICFIT Dialogues will take place as part of the biannual UN Trade and Development (UNCTAD) World Investment Forum and other global platforms. The COP29 session at the WTO Public Forum 2024 contributed to the global consultation process on BICFIT. As the WTO’s largest outreach event, the Public Forum offers a unique platform for stakeholders from around the world to discuss the latest developments in global trade and propose enhancements to the multilateral trading system. Each year, the event attracts over 3,000 representatives from civil society, academia, business, government, international organizations, and the media."/><link rel="icon" href="/en/icon.ico?35b5fa68f53e0b91" type="image/x-icon" sizes="32x32"/><script src="/_next/static/chunks/polyfills-42372ed130431b0a.js" noModule=""></script></head><body><style data-emotion="css-global g04qxy">:host,:root,[data-theme]{--chakra-ring-inset:var(--chakra-empty,/*!*/ /*!*/);--chakra-ring-offset-width:0px;--chakra-ring-offset-color:#fff;--chakra-ring-color:rgba(66, 153, 225, 0.6);--chakra-ring-offset-shadow:0 0 #0000;--chakra-ring-shadow:0 0 #0000;--chakra-space-x-reverse:0;--chakra-space-y-reverse:0;--chakra-colors-transparent:transparent;--chakra-colors-current:currentColor;--chakra-colors-black:#000000;--chakra-colors-white:#FFFFFF;--chakra-colors-whiteAlpha-50:rgba(255, 255, 255, 0.04);--chakra-colors-whiteAlpha-100:rgba(255, 255, 255, 0.06);--chakra-colors-whiteAlpha-200:rgba(255, 255, 255, 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Republic of Azerbaijan hosted a COP29 session at the WTO Public Forum in Geneva, Switzerland. The session featured the participation of the WTO Secretariat, UN Trade and Development, the International Trade Centre, and the International Chamber of Commerce. Organized as part of the WTO Public Forum on 13 September 2024, the session provided an update on COP29, scheduled to take place in Baku, Azerbaijan, from 11 to 22 November 2024.\u003cbr\u003e\n\n\u003cbr\u003eThe audience was informed of the COP29 Presidency’s preparations for Thematic Days, Presidency-led global initiatives, trade priorities and initiatives, and the Trade and Investment House – a dedicated space for exploring how trade can contribute to addressing climate challenges.\u003cbr\u003e\n\n\u003cbr\u003eElmar Mammadov, Senior Negotiator and Co-Leader of the Action Agenda Initiatives Team from the COP29 Presidency, informed participants at the WTO Public Forum that the Presidency will host the first-ever Climate Finance, Investment, and Trade Thematic Day as an integrated event. The Trade and Investment House will be set up in both the blue and green zones, organized by the Ministry of Economy of Azerbaijan (AZPROMO) with support from partner institutions, including the WTO, UN Trade and Development, the International Trade Centre, and the International Chamber of Commerce.\u003cbr\u003e\n\n\u003cbr\u003eMammadov introduced to the global trade community the COP29 Presidency-led Baku Initiative for Climate Finance, Investment, and Trade (BICFIT), a new partnership aimed at enhancing coherence by integrating climate finance, investment, trade, and sustainable development agendas. BICFIT will provide a global platform for supporting policy development, sharing knowledge, promoting climate investment, and co-creating solutions through dialogue. It will contribute to ensure that climate finance, investment, and trade are fully embedded in national climate policies and development plans, while also exploring ways to strengthen investment promotion institutions to attract climate-positive investments.\u003cbr\u003e\n\n\u003cbr\u003eBICFIT will encourage the creation of national, regional, and sub-regional platforms to enhance the climate finance, investment, and trade nexus. This initiative will also support the design, structuring, and preparation of concrete, bankable climate projects, aligning climate action with development objectives at more targeted, local levels. To foster collaboration and shared solutions, regular BICFIT Dialogues will take place as part of the biannual UN Trade and Development (UNCTAD) World Investment Forum and other global platforms.\u003cbr\u003e\n\n\u003cbr\u003eThe COP29 session at the WTO Public Forum 2024 contributed to the global consultation process on BICFIT. As the WTO’s largest outreach event, the Public Forum offers a unique platform for stakeholders from around the world to discuss the latest developments in global trade and propose enhancements to the multilateral trading system. Each year, the event attracts over 3,000 representatives from civil society, academia, business, government, international organizations, and the media.\u003cbr\u003e\n"])</script><script>self.__next_f.push([1,"1d:Tbe1,"])</script><script>self.__next_f.push([1,"The Republic of Azerbaijan hosted a COP29 session at the WTO Public Forum in Geneva, Switzerland. The session featured the participation of the WTO Secretariat, UN Trade and Development, the International Trade Centre, and the International Chamber of Commerce. Organized as part of the WTO Public Forum on 13 September 2024, the session provided an update on COP29, scheduled to take place in Baku, Azerbaijan, from 11 to 22 November 2024. The audience was informed of the COP29 Presidency’s preparations for Thematic Days, Presidency-led global initiatives, trade priorities and initiatives, and the Trade and Investment House – a dedicated space for exploring how trade can contribute to addressing climate challenges. Elmar Mammadov, Senior Negotiator and Co-Leader of the Action Agenda Initiatives Team from the COP29 Presidency, informed participants at the WTO Public Forum that the Presidency will host the first-ever Climate Finance, Investment, and Trade Thematic Day as an integrated event. The Trade and Investment House will be set up in both the blue and green zones, organized by the Ministry of Economy of Azerbaijan (AZPROMO) with support from partner institutions, including the WTO, UN Trade and Development, the International Trade Centre, and the International Chamber of Commerce. Mammadov introduced to the global trade community the COP29 Presidency-led Baku Initiative for Climate Finance, Investment, and Trade (BICFIT), a new partnership aimed at enhancing coherence by integrating climate finance, investment, trade, and sustainable development agendas. BICFIT will provide a global platform for supporting policy development, sharing knowledge, promoting climate investment, and co-creating solutions through dialogue. It will contribute to ensure that climate finance, investment, and trade are fully embedded in national climate policies and development plans, while also exploring ways to strengthen investment promotion institutions to attract climate-positive investments. BICFIT will encourage the creation of national, regional, and sub-regional platforms to enhance the climate finance, investment, and trade nexus. This initiative will also support the design, structuring, and preparation of concrete, bankable climate projects, aligning climate action with development objectives at more targeted, local levels. To foster collaboration and shared solutions, regular BICFIT Dialogues will take place as part of the biannual UN Trade and Development (UNCTAD) World Investment Forum and other global platforms. The COP29 session at the WTO Public Forum 2024 contributed to the global consultation process on BICFIT. As the WTO’s largest outreach event, the Public Forum offers a unique platform for stakeholders from around the world to discuss the latest developments in global trade and propose enhancements to the multilateral trading system. Each year, the event attracts over 3,000 representatives from civil society, academia, business, government, international organizations, and the media."])</script><script>self.__next_f.push([1,"1e:T9ad,"])</script><script>self.__next_f.push([1,"Representatives of the COP29 IT Department have received the Cisco Sustainability Leader Award, recognizing their contributions to sustainable development and innovative technology solutions. Notably, COP29 Azerbaijan Operating Company became the first organization in Azerbaijan to receive this prestigious award.\n \nThe award ceremony took place at Cisco Live in Amsterdam, a premier technology event hosted by Cisco, a global leader in networking and IT. The COP29 Azerbaijan Operating Company was selected for its role in establishing the ICT infrastructure for the 29th UN Climate Change Conference (COP29). This award highlights successful projects that advance sustainability in the high-tech industry.\n \nThe award was received on behalf of COP29 by Javid Huseynov, director of the ICT department, along with Aykhan Satiji and Vusal Shahbazov. The event also featured discussions on COP29’s ICT project management and innovation, with the COP29 ICT team participating in a panel discussion titled “Building Network Infrastructure for Sustainability: Cisco and UN COP29” alongside Adele Trombetta, SVP and GM Customer Experience EMEA - Europe, Middle East, and Africa and Mary de Wysocki, SVP \u0026 Chief Sustainability Officer, Cisco’s Senior Vice Presidents for Customer Experience and Sustainability. Other recipients of the Cisco Sustainability Leader Award included T-Systems, SAP, STC, CORE42, Sykehuspartner, and Paris 2024.\n \nHeld from February 9 to 14, 2025, in Amsterdam, Cisco Live is one of the world’s leading technology events. This year, nearly 80 representatives from Azerbaijan’s public and private sectors are participating, including members of the COP29 IT Department.\n \nAs Cisco’s flagship annual event, Cisco Live brings together technology professionals, IT leaders, and engineers to explore the latest advancements. It also serves as a platform to showcase Azerbaijan’s achievements in hosting COP29 and building an internationally recognized ICT infrastructure in a short timeframe.\n \nIn addition to winning the Cisco Sustainability Leader Award, the COP29 IT team was also named as one of the six finalists for Cisco’s “Sustainability Changemaker” award. This recognition places them among globally renowned companies such as Adidas, Garanti BBVA, and Red Sea Global.\n \nThis recognition further strengthens Azerbaijan’s position as a leader in technology-driven sustainability and innovation solutions at a global stage."])</script><script>self.__next_f.push([1,"1f:T9ad,"])</script><script>self.__next_f.push([1,"Representatives of the COP29 IT Department have received the Cisco Sustainability Leader Award, recognizing their contributions to sustainable development and innovative technology solutions. Notably, COP29 Azerbaijan Operating Company became the first organization in Azerbaijan to receive this prestigious award.\n \nThe award ceremony took place at Cisco Live in Amsterdam, a premier technology event hosted by Cisco, a global leader in networking and IT. The COP29 Azerbaijan Operating Company was selected for its role in establishing the ICT infrastructure for the 29th UN Climate Change Conference (COP29). This award highlights successful projects that advance sustainability in the high-tech industry.\n \nThe award was received on behalf of COP29 by Javid Huseynov, director of the ICT department, along with Aykhan Satiji and Vusal Shahbazov. The event also featured discussions on COP29’s ICT project management and innovation, with the COP29 ICT team participating in a panel discussion titled “Building Network Infrastructure for Sustainability: Cisco and UN COP29” alongside Adele Trombetta, SVP and GM Customer Experience EMEA - Europe, Middle East, and Africa and Mary de Wysocki, SVP \u0026 Chief Sustainability Officer, Cisco’s Senior Vice Presidents for Customer Experience and Sustainability. Other recipients of the Cisco Sustainability Leader Award included T-Systems, SAP, STC, CORE42, Sykehuspartner, and Paris 2024.\n \nHeld from February 9 to 14, 2025, in Amsterdam, Cisco Live is one of the world’s leading technology events. This year, nearly 80 representatives from Azerbaijan’s public and private sectors are participating, including members of the COP29 IT Department.\n \nAs Cisco’s flagship annual event, Cisco Live brings together technology professionals, IT leaders, and engineers to explore the latest advancements. It also serves as a platform to showcase Azerbaijan’s achievements in hosting COP29 and building an internationally recognized ICT infrastructure in a short timeframe.\n \nIn addition to winning the Cisco Sustainability Leader Award, the COP29 IT team was also named as one of the six finalists for Cisco’s “Sustainability Changemaker” award. This recognition places them among globally renowned companies such as Adidas, Garanti BBVA, and Red Sea Global.\n \nThis recognition further strengthens Azerbaijan’s position as a leader in technology-driven sustainability and innovation solutions at a global stage."])</script><script>self.__next_f.push([1,"20:Taeb,"])</script><script>self.__next_f.push([1,"The COP29 Presidency attended the Mission 300 Africa Energy Summit in Tanzania, a landmark gathering for governments, private sector leaders and development partners to advance the ambitious goal of providing electricity access to 300 million by 2030.\n \nFor 2 days event, multilateral development banks, including the World Bank, the African Development Bank, the Islamic Development Bank, the Asian Infrastructure Investment Bank and OPEC Fund etc. committed to channelling over $50billion towards the Mission300 project.\n \nAt the summit, Mr Babayev engaged in key discussions on advancing energy access and accelerating the shift to renewable energy in Africa. He emphasised the role that the commitments made at COP29 could play in achieving this goal. This includes the Baku Finance Goal, which aims to mobilise $1.3 trillion in climate finance, and the COP29 Action Agenda global energy storage and grids pledge, to increase global energy storage capacity by six times by 2030.\n \nSpeaking engagements: Delivered remarks at a panel on the role of international partners in accelerating the energy transformation, highlighting the role that the Baku Finance Goal can plan in meeting the clean energy investment needs of Africa’s rising populations \nBilateral meetings: Meeting with UN Deputy Secretary General Amina Mohammed\nMeeting with Mr Jin Liqun, President and Chair of the Asian Infrastructure Bank\nMeeting with Hussain AlNowais, Chairman of AMEA Power\nMeeting with Ms Angellah Kairuki, special advisor to president on clean cooking and community development of Tanzania and Dr. Richard Muyungi\nMeeting with Ms AngellahKairuki, special advisor to president on clean cooking and community development of Tanzania \nMeeting with Dr Muhammad Al Jasser, President of the Islamic Development Bank etc. \nThe COP29 Baku Finance Goal, which aims to mobilise $1.3 trillion in climate finance, remains central to all discussion and requires cooperation from all key stakeholders including multilateral development banks, governments, donors, and the private sector.\n \nThe COP29 Presidency recognises that the active engagement of African governments was critical to collective success at COP29 and attendance at this important event signals Azerbaijan’s continued commitment to championing the needs of Africa on the world stage.\n \nSummary of key financial commitments: Multilateral banks pledged over $50 billion towards the Mission300 project that will connect at least 300 million Africans to energy by 2030\nThe World Bank committed to $22 billion, while the AfDB will give $18.2 billion through concessional loans\nThe IDB pledged the highest amount yet, of $2.65 billion to be committed directly to the goal\nThe AIIB and OPEC pledged $1 billion towards Mission 300 respectively"])</script><script>self.__next_f.push([1,"21:Taeb,"])</script><script>self.__next_f.push([1,"The COP29 Presidency attended the Mission 300 Africa Energy Summit in Tanzania, a landmark gathering for governments, private sector leaders and development partners to advance the ambitious goal of providing electricity access to 300 million by 2030.\n \nFor 2 days event, multilateral development banks, including the World Bank, the African Development Bank, the Islamic Development Bank, the Asian Infrastructure Investment Bank and OPEC Fund etc. committed to channelling over $50billion towards the Mission300 project.\n \nAt the summit, Mr Babayev engaged in key discussions on advancing energy access and accelerating the shift to renewable energy in Africa. He emphasised the role that the commitments made at COP29 could play in achieving this goal. This includes the Baku Finance Goal, which aims to mobilise $1.3 trillion in climate finance, and the COP29 Action Agenda global energy storage and grids pledge, to increase global energy storage capacity by six times by 2030.\n \nSpeaking engagements: Delivered remarks at a panel on the role of international partners in accelerating the energy transformation, highlighting the role that the Baku Finance Goal can plan in meeting the clean energy investment needs of Africa’s rising populations \nBilateral meetings: Meeting with UN Deputy Secretary General Amina Mohammed\nMeeting with Mr Jin Liqun, President and Chair of the Asian Infrastructure Bank\nMeeting with Hussain AlNowais, Chairman of AMEA Power\nMeeting with Ms Angellah Kairuki, special advisor to president on clean cooking and community development of Tanzania and Dr. Richard Muyungi\nMeeting with Ms AngellahKairuki, special advisor to president on clean cooking and community development of Tanzania \nMeeting with Dr Muhammad Al Jasser, President of the Islamic Development Bank etc. \nThe COP29 Baku Finance Goal, which aims to mobilise $1.3 trillion in climate finance, remains central to all discussion and requires cooperation from all key stakeholders including multilateral development banks, governments, donors, and the private sector.\n \nThe COP29 Presidency recognises that the active engagement of African governments was critical to collective success at COP29 and attendance at this important event signals Azerbaijan’s continued commitment to championing the needs of Africa on the world stage.\n \nSummary of key financial commitments: Multilateral banks pledged over $50 billion towards the Mission300 project that will connect at least 300 million Africans to energy by 2030\nThe World Bank committed to $22 billion, while the AfDB will give $18.2 billion through concessional loans\nThe IDB pledged the highest amount yet, of $2.65 billion to be committed directly to the goal\nThe AIIB and OPEC pledged $1 billion towards Mission 300 respectively"])</script><script>self.__next_f.push([1,"22:Tb2d,"])</script><script>self.__next_f.push([1,"COP29 President Mukhtar Babayev attended the World Economic Forum in Davos where governments, international organisations, the private sector and civil society come together. \n \nAt the summit, the Presidency discussed the key outcomes of COP29 and how to implement the historic commitments made in Baku. He also took the opportunity to remind all key stakeholders of the critical role they must play in tackling climate change and delivering the $1.3 trillion target set out in the Baku Finance Goal through the Baku to Belem Roadmap.\n \nDuring the World Economic Forum, Mr Babayev attended important engagements to ensure stakeholders turn commitments from COP29 into action. \n \nSpeaking engagements:\n Delivered remarks at the ‘The Road to COP30’ session hosted by the World Economic Forum on how COP29 has laid the foundations for the next decade of climate action to be faster, fairer and far-reaching;\nDelivered remarks at the High-Level Dialogue on ‘Business for COP Impact: How Business Can Complement Countries’ hosted by the World Economic Forum about the critical role businesses can play in delivering the historic $1.3 trillion target set in Baku; \nBilateral Meetings:\n Meeting with Simon Stiell, Executive Secretary of the UNFCCC to speak about implementing the historic commitments made in Baku;\nMeeting with Mr Abdel bin Ahmed Al-Jubeir, Minister of State for Foreign Affairs, Member of the Council of Ministers, and Climate Envoy for Climate Affais to reflect on the significant breakthroughs made at COP29 and both nations’ plans to scale up renewable energy investments;\nMeeting with Fatih Birol, Executive Director of the International Energy Agency to discuss important milestones in the energy transition, from methane to storage that were achieved at COP29, as well as how to drive greater investment in the clean energy transition; \nMeeting with Sophie Hermans, Deputy Prime Minister and Minister of Climate Policy and Green Growth of the The Kingdom of the Netherlands to discuss ambitious climate goals and ongoing opportunities for multilateral climate action. \nThese engagements were an important part of the COP29 Presidency’s work to help all stakeholders implement the historic commitments made at COP29. At the summit, Mr Babayev reiterated to all stakeholders the importance of:\n Continual collaboration: Amidst challenges to multilateralism, the need and benefits for collaboration to address global issues such as climate change have never been greater.\nDriving delivery: The private sector has a crucial role to play in delivering the $1.3 trillion target set out in the Baku Finance Goal through the Baku to Belem Roadmap.\nProgress to prevail: Critical progress was made at COP29, however there is more to be done. The COP29 Presidency will do all it can to support Brazil in making COP30 a success."])</script><script>self.__next_f.push([1,"23:Tb2d,"])</script><script>self.__next_f.push([1,"COP29 President Mukhtar Babayev attended the World Economic Forum in Davos where governments, international organisations, the private sector and civil society come together. \n \nAt the summit, the Presidency discussed the key outcomes of COP29 and how to implement the historic commitments made in Baku. He also took the opportunity to remind all key stakeholders of the critical role they must play in tackling climate change and delivering the $1.3 trillion target set out in the Baku Finance Goal through the Baku to Belem Roadmap.\n \nDuring the World Economic Forum, Mr Babayev attended important engagements to ensure stakeholders turn commitments from COP29 into action. \n \nSpeaking engagements:\n Delivered remarks at the ‘The Road to COP30’ session hosted by the World Economic Forum on how COP29 has laid the foundations for the next decade of climate action to be faster, fairer and far-reaching;\nDelivered remarks at the High-Level Dialogue on ‘Business for COP Impact: How Business Can Complement Countries’ hosted by the World Economic Forum about the critical role businesses can play in delivering the historic $1.3 trillion target set in Baku; \nBilateral Meetings:\n Meeting with Simon Stiell, Executive Secretary of the UNFCCC to speak about implementing the historic commitments made in Baku;\nMeeting with Mr Abdel bin Ahmed Al-Jubeir, Minister of State for Foreign Affairs, Member of the Council of Ministers, and Climate Envoy for Climate Affais to reflect on the significant breakthroughs made at COP29 and both nations’ plans to scale up renewable energy investments;\nMeeting with Fatih Birol, Executive Director of the International Energy Agency to discuss important milestones in the energy transition, from methane to storage that were achieved at COP29, as well as how to drive greater investment in the clean energy transition; \nMeeting with Sophie Hermans, Deputy Prime Minister and Minister of Climate Policy and Green Growth of the The Kingdom of the Netherlands to discuss ambitious climate goals and ongoing opportunities for multilateral climate action. \nThese engagements were an important part of the COP29 Presidency’s work to help all stakeholders implement the historic commitments made at COP29. At the summit, Mr Babayev reiterated to all stakeholders the importance of:\n Continual collaboration: Amidst challenges to multilateralism, the need and benefits for collaboration to address global issues such as climate change have never been greater.\nDriving delivery: The private sector has a crucial role to play in delivering the $1.3 trillion target set out in the Baku Finance Goal through the Baku to Belem Roadmap.\nProgress to prevail: Critical progress was made at COP29, however there is more to be done. The COP29 Presidency will do all it can to support Brazil in making COP30 a success."])</script><script>self.__next_f.push([1,"24:T37a9,"])</script><script>self.__next_f.push([1,"The Baku Finance Goal sets new global target to channel $1.3tn of climate finance to developing countries by 2035 in significant uplift. This includes a new core finance goal of $300bn that triples the previous $100bn target. \nBreakthroughs on the Baku Finance Goal and UN carbon markets defy expectations as a result of year of intensive multilateral diplomacy led by Azerbaijani COP29 Presidency.\nCOP29 President Mukhtar Babayev: “The Baku Finance Goal represents the best possible deal we could reach. In a year of geopolitical fragmentation, people doubted that Azerbaijan could deliver. They doubted that everyone could agree. They were wrong on both counts.”\nParties recognise the Government of the Republic of Azerbaijan and the people of Azerbaijan for their service to the global community as hosts of the UN Climate Change Conference.\nCOP29 Presidency succeeds in getting the Fund for Loss and Damage up and running and ready to distribute money in 2025. \nNovember 24, Baku: The COP29 Presidency of Azerbaijan today announced the agreement of the Baku Finance Goal (BFG), a new commitment to channel $1.3tn of climate finance to the developing world each year. Success on the COP29 Presidency’s top priority for the UN Climate Summit represents a significant uplift from the previous climate finance goal of $100 billion and will unlock a new wave of global investment.\n \nThe Baku Finance Goal contains a core target for developed countries to take the lead on mobilizing at least $300 billion per year for developing countries by 2035. This represents a $50bn increase on the previous draft text, and is the product of 48 hours of intensive diplomacy by the COP29 Presidency. It pays special consideration to support the least developed countries and small island developing states, with provisions on accessibility and transparency. \n \nThe Baku Finance Goal is the centrepiece of a package of agreements that deliver progress across all climate pillars. These breakthroughs are the result of months of intensive diplomacy by the Azerbaijani Presidency to deliver some of the most complex and controversial tasks in multilateral climate action. They mark a critical step in putting in place the means to deliver a pathway to 1.5C.\n \nCOP29 ended the decade-long wait for the conclusion of Article 6 negotiations on high integrity carbon markets under the UN. Financial flows from compliant carbon markets could reach $1 trillion per year by 2050. They also have the potential to reduce the cost of implementing national climate plans by $250 billion per year. When combined, the Baku Finance Goal and Article 6 will forever change the global climate finance architecture by redirecting investment to the developing world.\n \nIn the plenary session, Parties in Baku unanimously agreed to an expression of gratitude to the government of the Republic of Azerbaijan and to the people of Azerbaijan for the generosity and hospitality they demonstrated in hosting the 29th Conference of the Parties. \n \nThe COP29 Presidency also succeeded in getting the Fund for Loss and Damage up and running and ready to distribute money in 2025. This decision was long awaited by developing countries, including small island states, least developed countries, and African nations. This aligns with the priority set by the President of the Republic of Azerbaijan, Mr. Ilham Aliyev, to address the challenges posed by climate change impacts on small island states under the COP29 Presidency.\n \nCOP29 President Mukhtar Babayev said, “When the world came to Baku, people doubted that Azerbaijan could deliver. They doubted that everyone could agree. They were wrong on both counts. With this breakthrough, the Baku Finance Goal will turn billions into trillions over the next decade. We have secured a trebling of the core climate finance target for developing countries each year.”\n \n“The Baku Finance Goal represents the best possible deal we could reach, and we have pushed the donor countries as far as possible. We have forever changed the global financial architecture and taken a significant step towards delivering the means to deliver a pathway to 1.5C. The years ahead will not be easy. The science shows that the challenges will only grow. Our ability to work together will be tested. The Baku Breakthrough will help us weather the coming storms.”\n \nThe successful agreement of the Baku Finance Goal comes as part of a series of achievements that the COP29 Presidency delivered and secured, as in Annex 1.\n \nThe full text of the Baku Finance Goal can be found here\n \n \n \nAnnex 1: COP29 achievements \n \nParallel to delivering a balanced package of negotiated priorities, the COP29 Presidency’s Action Agenda called on a wider group of stakeholders to contribute to global climate action. \n \nThe Action Agenda Initiatives confront some of the most pressing problems, shine a light on forgotten priorities, offer unique solutions based on the experiences and perspective of the host, and reinforce coherence and COP-to-COP continuity. These Initiatives were designed in an inclusive and transparent process in consultation with all stakeholders. They serve to complement existing initiatives and bring new, creative approaches to climate challenges. \n \nTogether, these Initiatives will support the implementation of ambitious climate action. \n Baku Initiative for Climate Finance, Investment and Trade (BICFIT) Dialogue: The COP29 Presidency brought UN agencies, international organisations, multilateral development banks, multilateral climate funds, the private sector, civil society, key coalition, and other stakeholders, alongside COP Presidencies and Parties together to ensure that finance, investment and trade remain at the centre of the climate agenda. Announced the new Baku Climate Coalition for SMEs Green Transition. Energy pledges and declarations: The COP29 Presidency launched its pledges and declarations on energy storage, grids, zones, corridors and hydrogen, which were endorsed by 150 Parties. COP29 Declaration on Green Digital Action: More than 75 governments and over 1,100 members of the digital tech community endorsed the declaration to use digital tools to reduce emissions and strengthen climate resilience.   Baku Initiative on Human Development for Climate Resilience: A joint statement among 8 UN agencies, 3 MDBs and 3 climate funds, saw the adoption of the Baku Guiding Principles on Human Development for Climate Resilience and established the Baku COP Presidencies Continuity Coalition for Climate and Health.   Climate and Health Continuity Coalition: Five COP Presidencies (COP26 to COP30), alongside the WHO Director-General, embedded health into the climate agenda—and advocated for health to be a core feature of future COP conferences—by introducing the Baku COP Presidencies Continuity Coalition for Climate and Health. Reducing Methane from Organic Waste Declaration: Over 50 countries—including 8 of the world’s 10 largest organic waste methane emitters and representing 51% of global methane emissions from organic waste—endorsed the declaration committing to sectoral targets to reduce methane from organic waste within future NDC, which will contribute to the implementation of the Global Methane Pledge. Baku Harmoniya Climate Initiative for Farmers: A platform that brings together the dispersed landscape of existing climate initiatives in the field of food and agriculture, in order to make support for farmers easier to find and to facilitate access to finance. COP29 MAP Declaration for Resilient and Healthy Cities: Brings together UN agencies and IGOs, MDBs, MCFs, philanthropic organisations, bilateral donors and implementing agencies for partnership and collaboration on urban climate finance, with over 160 endorsers, including more than 40 Parties, intending to work on multisectoral approaches to climate action and planning in urban areas. Launched Baku Continuity Coalition for Urban Climate Action, which takes a multisectoral and multilevel approach to continuity and coherence between COP, UNFCCC and UN Habitat urban processes. COP29 Declaration on Enhanced Action in Tourism: Commits more than 60 government endorsers to promote sustainable tourism practices by reducing emissions and increasing resilience in the sector—ultimately positioning tourism as a key component of climate solutions.   COP29 Declaration on Water for Climate Action: With endorsers from over 50 countries, this declaration will take an integrated approach to combating the causes and impacts of climate change on water basins and water-related ecosystems. It advocates for the integrations of water-related mitigation and adaptation measures in national climate policies, including NDCs and NAPs.  \nSignificant progress made throughout the course of the two weeks \nIn addition to its Action Agenda initiatives, the COP29 Presidency made progress in several priority areas for ambitious climate action. This included advancing transparency and securing funding for Loss and Damage. In addition to Presidency-led initiatives, Parties and other stakeholders stepped up and showed leadership with their own commitments. \n The COP29 Presidency placed a significant emphasis on the importance of transparency and Biennial Transparency Reports (BTRs) by launching the Baku Transparency Platform and calling for early submissions from Parties, resulting in 11 Parties plus the European Union submitting before the 31 December deadline. Leading by example, the Presidency also submitted its own BTR. Parties continued progress towards the goal of operationalizing Article 6, which would direct resources to the developing world and reduce the cost of implementing national climate plans. They reached consensus on Article 6.4 standards for trusted and transparent carbon markets and concluded negotiations on Article 6.8 which facilitates international cooperation through non-market approaches to implementing national climate plans and promoting sustainable development. During the World Leaders Climate Action Summit, 80 Heads of States, Governments and Vice-Presidents delivered official statements on how they are advancing the Paris Agreement and committing to climate action, addressing the need to raise ambition for mitigation and adaptation. Multilateral Development Banks (MDBs) announced projections for their contributions to climate action as $170 billion per year by 2030, with $120 for low- and middle-income countries. Positioned the Fund for responding to Loss and Damage to be ready to distribute funds in 2025 by securing contributor agreements and pledges as well as signing the host country agreement with the Philippines and hosting and trustee agreements with the World Bank. The largest contributions made during COP29 came from Australia and Sweden. Total pledges to the Fund to date have surpassed $730 million. Countries—including the US, China, EU, UAE, UK, Brazil, Canada, and Nigeria—came together and announced policies focused on reducing methane from organic waste. Ensured the participation of Small Island Developing States (SIDS) throughout the conference, creating opportunities for them to raise key priorities and concerns, such as accessibility of climate finance. Brought together over 1,000 private and philanthropic leaders from more than 70 countries at the Business Investment and Philanthropy Climate Platform (BIPCP) where investor groups with over $10 trillion in assets united to deploy private capital into climate markets. Pledges to climate finance projects and initiatives totaled $7.3 billion on Finance, Investment and Trade Day, with the largest support coming from the Asian Development Bank ($3.5 billion), the Azerbaijani banking sector ($1.2 billion), Sweden ($760 million) and Canada ($1.5 billion from the Canadian Government and $290 million from philanthropies) on investments in combating impacts of melting glaciers, green taxonomies, and climate action. Development finance institutions pledged to support the 10GW Lighthouse Initiative for renewable hydrogen projects in emerging markets and developing countries.  Over 50 shipping industry actors agreed to accelerate zero and near-zero emission fuels by 2030, translating to at least 5 million tonnes of green hydrogen. As part of a $193 million package for various clean energy initiatives, the UK supported clean cooking for 10 million people across Sub-Saharan Africa, South Asia, and the Indo-Pacific to leave coal and wood cooking behind. Signified the role of cooperation and peace as indispensable to global climate action—with the COP Truce Appeal garnering support from 132 countries and 1,200+ organizations, as well as the Baku Call on Climate Action for Peace, Relief and Recovery being adopted, an initiative which will launch the Baku Climate and Peace Action Hub to address the urgent nexus of climate change, conflict, and humanitarian needs. With Germany’s pledge of $65.1 million and Ireland’s pledge of $13 million, contributions to the Adaptation Fund reached $133 million. Climate Investment Funds increased, collecting additional contributions from the US ($325 million), Germany ($220 million), and the UK ($211 million). 25 countries and the European Union indicated their intentions to put forward national climate plans that reflect no new unabated coal in their energy systems and issued a call to action for others to do the same. Mexico announced their commitment to net-zero emissions by 2050, meaning all G20 members have committed to a net-zero target. Local Communities and Indigenous Peoples: Established the Baku Workplan of the Local Communities and Indigenous Peoples Platform. UK government pledges £239 million ($299 million USD): The UK government has pledged over $299 million to tackle deforestation, including money to support the development of high-integrity forest carbon markets, for blended finance for sustainable forest enterprises, and for the UNFCCC to help countries protect forests."])</script><script>self.__next_f.push([1,"25:T37a9,"])</script><script>self.__next_f.push([1,"The Baku Finance Goal sets new global target to channel $1.3tn of climate finance to developing countries by 2035 in significant uplift. This includes a new core finance goal of $300bn that triples the previous $100bn target. \nBreakthroughs on the Baku Finance Goal and UN carbon markets defy expectations as a result of year of intensive multilateral diplomacy led by Azerbaijani COP29 Presidency.\nCOP29 President Mukhtar Babayev: “The Baku Finance Goal represents the best possible deal we could reach. In a year of geopolitical fragmentation, people doubted that Azerbaijan could deliver. They doubted that everyone could agree. They were wrong on both counts.”\nParties recognise the Government of the Republic of Azerbaijan and the people of Azerbaijan for their service to the global community as hosts of the UN Climate Change Conference.\nCOP29 Presidency succeeds in getting the Fund for Loss and Damage up and running and ready to distribute money in 2025. \nNovember 24, Baku: The COP29 Presidency of Azerbaijan today announced the agreement of the Baku Finance Goal (BFG), a new commitment to channel $1.3tn of climate finance to the developing world each year. Success on the COP29 Presidency’s top priority for the UN Climate Summit represents a significant uplift from the previous climate finance goal of $100 billion and will unlock a new wave of global investment.\n \nThe Baku Finance Goal contains a core target for developed countries to take the lead on mobilizing at least $300 billion per year for developing countries by 2035. This represents a $50bn increase on the previous draft text, and is the product of 48 hours of intensive diplomacy by the COP29 Presidency. It pays special consideration to support the least developed countries and small island developing states, with provisions on accessibility and transparency. \n \nThe Baku Finance Goal is the centrepiece of a package of agreements that deliver progress across all climate pillars. These breakthroughs are the result of months of intensive diplomacy by the Azerbaijani Presidency to deliver some of the most complex and controversial tasks in multilateral climate action. They mark a critical step in putting in place the means to deliver a pathway to 1.5C.\n \nCOP29 ended the decade-long wait for the conclusion of Article 6 negotiations on high integrity carbon markets under the UN. Financial flows from compliant carbon markets could reach $1 trillion per year by 2050. They also have the potential to reduce the cost of implementing national climate plans by $250 billion per year. When combined, the Baku Finance Goal and Article 6 will forever change the global climate finance architecture by redirecting investment to the developing world.\n \nIn the plenary session, Parties in Baku unanimously agreed to an expression of gratitude to the government of the Republic of Azerbaijan and to the people of Azerbaijan for the generosity and hospitality they demonstrated in hosting the 29th Conference of the Parties. \n \nThe COP29 Presidency also succeeded in getting the Fund for Loss and Damage up and running and ready to distribute money in 2025. This decision was long awaited by developing countries, including small island states, least developed countries, and African nations. This aligns with the priority set by the President of the Republic of Azerbaijan, Mr. Ilham Aliyev, to address the challenges posed by climate change impacts on small island states under the COP29 Presidency.\n \nCOP29 President Mukhtar Babayev said, “When the world came to Baku, people doubted that Azerbaijan could deliver. They doubted that everyone could agree. They were wrong on both counts. With this breakthrough, the Baku Finance Goal will turn billions into trillions over the next decade. We have secured a trebling of the core climate finance target for developing countries each year.”\n \n“The Baku Finance Goal represents the best possible deal we could reach, and we have pushed the donor countries as far as possible. We have forever changed the global financial architecture and taken a significant step towards delivering the means to deliver a pathway to 1.5C. The years ahead will not be easy. The science shows that the challenges will only grow. Our ability to work together will be tested. The Baku Breakthrough will help us weather the coming storms.”\n \nThe successful agreement of the Baku Finance Goal comes as part of a series of achievements that the COP29 Presidency delivered and secured, as in Annex 1.\n \nThe full text of the Baku Finance Goal can be found here\n \n \n \nAnnex 1: COP29 achievements \n \nParallel to delivering a balanced package of negotiated priorities, the COP29 Presidency’s Action Agenda called on a wider group of stakeholders to contribute to global climate action. \n \nThe Action Agenda Initiatives confront some of the most pressing problems, shine a light on forgotten priorities, offer unique solutions based on the experiences and perspective of the host, and reinforce coherence and COP-to-COP continuity. These Initiatives were designed in an inclusive and transparent process in consultation with all stakeholders. They serve to complement existing initiatives and bring new, creative approaches to climate challenges. \n \nTogether, these Initiatives will support the implementation of ambitious climate action. \n Baku Initiative for Climate Finance, Investment and Trade (BICFIT) Dialogue: The COP29 Presidency brought UN agencies, international organisations, multilateral development banks, multilateral climate funds, the private sector, civil society, key coalition, and other stakeholders, alongside COP Presidencies and Parties together to ensure that finance, investment and trade remain at the centre of the climate agenda. Announced the new Baku Climate Coalition for SMEs Green Transition. Energy pledges and declarations: The COP29 Presidency launched its pledges and declarations on energy storage, grids, zones, corridors and hydrogen, which were endorsed by 150 Parties. COP29 Declaration on Green Digital Action: More than 75 governments and over 1,100 members of the digital tech community endorsed the declaration to use digital tools to reduce emissions and strengthen climate resilience.   Baku Initiative on Human Development for Climate Resilience: A joint statement among 8 UN agencies, 3 MDBs and 3 climate funds, saw the adoption of the Baku Guiding Principles on Human Development for Climate Resilience and established the Baku COP Presidencies Continuity Coalition for Climate and Health.   Climate and Health Continuity Coalition: Five COP Presidencies (COP26 to COP30), alongside the WHO Director-General, embedded health into the climate agenda—and advocated for health to be a core feature of future COP conferences—by introducing the Baku COP Presidencies Continuity Coalition for Climate and Health. Reducing Methane from Organic Waste Declaration: Over 50 countries—including 8 of the world’s 10 largest organic waste methane emitters and representing 51% of global methane emissions from organic waste—endorsed the declaration committing to sectoral targets to reduce methane from organic waste within future NDC, which will contribute to the implementation of the Global Methane Pledge. Baku Harmoniya Climate Initiative for Farmers: A platform that brings together the dispersed landscape of existing climate initiatives in the field of food and agriculture, in order to make support for farmers easier to find and to facilitate access to finance. COP29 MAP Declaration for Resilient and Healthy Cities: Brings together UN agencies and IGOs, MDBs, MCFs, philanthropic organisations, bilateral donors and implementing agencies for partnership and collaboration on urban climate finance, with over 160 endorsers, including more than 40 Parties, intending to work on multisectoral approaches to climate action and planning in urban areas. Launched Baku Continuity Coalition for Urban Climate Action, which takes a multisectoral and multilevel approach to continuity and coherence between COP, UNFCCC and UN Habitat urban processes. COP29 Declaration on Enhanced Action in Tourism: Commits more than 60 government endorsers to promote sustainable tourism practices by reducing emissions and increasing resilience in the sector—ultimately positioning tourism as a key component of climate solutions.   COP29 Declaration on Water for Climate Action: With endorsers from over 50 countries, this declaration will take an integrated approach to combating the causes and impacts of climate change on water basins and water-related ecosystems. It advocates for the integrations of water-related mitigation and adaptation measures in national climate policies, including NDCs and NAPs.  \nSignificant progress made throughout the course of the two weeks \nIn addition to its Action Agenda initiatives, the COP29 Presidency made progress in several priority areas for ambitious climate action. This included advancing transparency and securing funding for Loss and Damage. In addition to Presidency-led initiatives, Parties and other stakeholders stepped up and showed leadership with their own commitments. \n The COP29 Presidency placed a significant emphasis on the importance of transparency and Biennial Transparency Reports (BTRs) by launching the Baku Transparency Platform and calling for early submissions from Parties, resulting in 11 Parties plus the European Union submitting before the 31 December deadline. Leading by example, the Presidency also submitted its own BTR. Parties continued progress towards the goal of operationalizing Article 6, which would direct resources to the developing world and reduce the cost of implementing national climate plans. They reached consensus on Article 6.4 standards for trusted and transparent carbon markets and concluded negotiations on Article 6.8 which facilitates international cooperation through non-market approaches to implementing national climate plans and promoting sustainable development. During the World Leaders Climate Action Summit, 80 Heads of States, Governments and Vice-Presidents delivered official statements on how they are advancing the Paris Agreement and committing to climate action, addressing the need to raise ambition for mitigation and adaptation. Multilateral Development Banks (MDBs) announced projections for their contributions to climate action as $170 billion per year by 2030, with $120 for low- and middle-income countries. Positioned the Fund for responding to Loss and Damage to be ready to distribute funds in 2025 by securing contributor agreements and pledges as well as signing the host country agreement with the Philippines and hosting and trustee agreements with the World Bank. The largest contributions made during COP29 came from Australia and Sweden. Total pledges to the Fund to date have surpassed $730 million. Countries—including the US, China, EU, UAE, UK, Brazil, Canada, and Nigeria—came together and announced policies focused on reducing methane from organic waste. Ensured the participation of Small Island Developing States (SIDS) throughout the conference, creating opportunities for them to raise key priorities and concerns, such as accessibility of climate finance. Brought together over 1,000 private and philanthropic leaders from more than 70 countries at the Business Investment and Philanthropy Climate Platform (BIPCP) where investor groups with over $10 trillion in assets united to deploy private capital into climate markets. Pledges to climate finance projects and initiatives totaled $7.3 billion on Finance, Investment and Trade Day, with the largest support coming from the Asian Development Bank ($3.5 billion), the Azerbaijani banking sector ($1.2 billion), Sweden ($760 million) and Canada ($1.5 billion from the Canadian Government and $290 million from philanthropies) on investments in combating impacts of melting glaciers, green taxonomies, and climate action. Development finance institutions pledged to support the 10GW Lighthouse Initiative for renewable hydrogen projects in emerging markets and developing countries.  Over 50 shipping industry actors agreed to accelerate zero and near-zero emission fuels by 2030, translating to at least 5 million tonnes of green hydrogen. As part of a $193 million package for various clean energy initiatives, the UK supported clean cooking for 10 million people across Sub-Saharan Africa, South Asia, and the Indo-Pacific to leave coal and wood cooking behind. Signified the role of cooperation and peace as indispensable to global climate action—with the COP Truce Appeal garnering support from 132 countries and 1,200+ organizations, as well as the Baku Call on Climate Action for Peace, Relief and Recovery being adopted, an initiative which will launch the Baku Climate and Peace Action Hub to address the urgent nexus of climate change, conflict, and humanitarian needs. With Germany’s pledge of $65.1 million and Ireland’s pledge of $13 million, contributions to the Adaptation Fund reached $133 million. Climate Investment Funds increased, collecting additional contributions from the US ($325 million), Germany ($220 million), and the UK ($211 million). 25 countries and the European Union indicated their intentions to put forward national climate plans that reflect no new unabated coal in their energy systems and issued a call to action for others to do the same. Mexico announced their commitment to net-zero emissions by 2050, meaning all G20 members have committed to a net-zero target. Local Communities and Indigenous Peoples: Established the Baku Workplan of the Local Communities and Indigenous Peoples Platform. UK government pledges £239 million ($299 million USD): The UK government has pledged over $299 million to tackle deforestation, including money to support the development of high-integrity forest carbon markets, for blended finance for sustainable forest enterprises, and for the UNFCCC to help countries protect forests."])</script><script>self.__next_f.push([1,"26:T6a3,At COP29, a decision was made to ensure the full operationalization of the Loss and Damage Fund, long awaited by developing countries, including small island states, least developed countries, and African nations. This aligns with the priority set by the President of the Republic of Azerbaijan, Mr. Ilham Aliyev, to address the challenges posed by climate change impacts on small island states under the COP29 Presidency.\n \nThe establishment of the Loss and Damage Fund was agreed upon during COP27 held in Egypt. The fund aims to provide financial assistance to countries most vulnerable to the impacts of climate change.\n \nDuring COP28 in the United Arab Emirates, a decision was made to launch the Fund's operations.\n \nThe COP29 Presidency has taken significant steps to ensure the Fund's operationalization, working closely with its Board and the World Bank. In September of this year, during the Fund's third Board meeting held in Baku, critical measures were taken to commence its operations, including the appointment of Ibrahima Cheikh Diong as the Fund's Executive Director.\n \nWithin the framework of COP29, several important agreements related to the Loss and Damage Fund were signed. These include the \"Trustee Agreement\" and \"Secretariat Hosting Agreement\" between the Fund's Board and the World Bank, as well as the \"Host Country Agreement\" between the Fund's Board and the host country, the Republic of the Philippines.\n \nTo date, the total pledged financial support for the Fund exceeds $730 million.\n \nWith these achievements, the Loss and Damage Fund will be able to start financing projects beginning in 2025. This marks yet another success of Azerbaijan's COP29 Presidency.27:T6a3,At COP29, a decision was made to ensure the full operationalization of the Loss and Damage Fund, long awaited by developing countries, including small island states, least developed countries, and African nations. This aligns with the priority set by the President of the Republic of Azerbaijan, Mr. Ilham Aliyev, to address the chal"])</script><script>self.__next_f.push([1,"lenges posed by climate change impacts on small island states under the COP29 Presidency.\n \nThe establishment of the Loss and Damage Fund was agreed upon during COP27 held in Egypt. The fund aims to provide financial assistance to countries most vulnerable to the impacts of climate change.\n \nDuring COP28 in the United Arab Emirates, a decision was made to launch the Fund's operations.\n \nThe COP29 Presidency has taken significant steps to ensure the Fund's operationalization, working closely with its Board and the World Bank. In September of this year, during the Fund's third Board meeting held in Baku, critical measures were taken to commence its operations, including the appointment of Ibrahima Cheikh Diong as the Fund's Executive Director.\n \nWithin the framework of COP29, several important agreements related to the Loss and Damage Fund were signed. These include the \"Trustee Agreement\" and \"Secretariat Hosting Agreement\" between the Fund's Board and the World Bank, as well as the \"Host Country Agreement\" between the Fund's Board and the host country, the Republic of the Philippines.\n \nTo date, the total pledged financial support for the Fund exceeds $730 million.\n \nWith these achievements, the Loss and Damage Fund will be able to start financing projects beginning in 2025. This marks yet another success of Azerbaijan's COP29 Presidency.28:Tfb7,"])</script><script>self.__next_f.push([1,"COP29 Presidency breaks through longstanding multilateral negotiations stalemate \n \nWill provide for high-quality and transparent carbon markets through which countries and companies can work together to meet their climate goals \n \nArticle 6 can save as much as $250 billion per year in implementation of national climate plans\n \nNovember 23, Baku: Today, the COP29 Presidency announced the end of the decade-long wait for the conclusion of negotiations on high integrity carbon markets under Article 6 of the Paris Agreement. This was one of the Presidency’s top priorities for the year and it drove Parties towards this milestone achievement through intensive dual-track technical and political negotiations. This strategy broke through years of stalemate and finalises the last outstanding item in the Paris Agreement. \n \nArticle 6 provides trusted and transparent carbon markets for countries as they collaborate to reach their climate goals. This cross-border cooperation is expected to reduce the cost of implementing countries’ national climate plans (NDCs) by up to $250 billion per year.\n \nThe COP29 Presidency encourages Parties to reinvest these savings in even greater climate ambition. The next generation of NDCs, due in February, are make-or-break for the world’s hopes of keeping 1.5 degrees within reach. Today’s milestone has been reached just in time to aid countries in committing to more ambition in their climate plans. \n \n“We have ended a decade-long wait and unlocked a critical tool for keeping 1.5 degrees in reach,” said COP29 President Mukhtar Babayev. “Climate change is a transnational challenge and Article 6 will enable transnational solutions. Because the atmosphere does not care where emissions savings are made.”\n \nCOP29 Lead Negotiator Yalchin Rafiyev commented, “Today, we have unlocked one of the most complex and technical challenges in climate diplomacy. Article 6 is hard to understand, but its impacts will be clear in our everyday lives. It means coal plants decommissioned, wind farms built and forests planted. It means a new wave of investment in the developing world.”\n \nToday’s outcome was hard-won. While the Glasgow and Sharm El-Sheikh COPs were able to establish important rules, modalities and procedures for carbon markets, the final building blocks of Article 6 remained unresolved. Prior to COP29, these negotiations had stalled, resulting in a costly delay in the full functioning of this pathway to greater international climate collaboration.\n \nThe COP29 Presidency employed a dedicated approach that unlocked previous multilateral stalemates. Throughout the year, the Presidency fostered productive engagement between Parties and drove progress by bridging the technical and political discussions to create consensus. This set the ground for early adoption of Article 6.4 standards on day one of COP29, which in turn built momentum towards today’s breakthrough.\n \nThe COP29 Presidency acknowledges with gratitude the many individuals and organisations that have been working tirelessly for nearly a decade to reach this achievement. Today’s consensus would not have been possible without the progress they achieved through their years of efforts. \n \nThe decisions unanimously adopted today on Article 6 will play a pivotal role in ensuring environmental integrity, transparency and robustness of carbon markets through real, additional, verified and measurable emission reductions and removals, while also unleashing their enormous potential to drive global climate investment. \n \nThe guidelines and rules adopted are designed to ensure that carbon projects maintain practicality and inclusivity, respect human rights and provide support to sustainable development, enabling countries and project developers to cooperate under the Paris Agreement with confidence. The adoption of these decisions does not mark the end of their evolution. The Parties can continually adjust the Article 6 rulebook as they learn by doing."])</script><script>self.__next_f.push([1,"29:Tfb7,"])</script><script>self.__next_f.push([1,"COP29 Presidency breaks through longstanding multilateral negotiations stalemate \n \nWill provide for high-quality and transparent carbon markets through which countries and companies can work together to meet their climate goals \n \nArticle 6 can save as much as $250 billion per year in implementation of national climate plans\n \nNovember 23, Baku: Today, the COP29 Presidency announced the end of the decade-long wait for the conclusion of negotiations on high integrity carbon markets under Article 6 of the Paris Agreement. This was one of the Presidency’s top priorities for the year and it drove Parties towards this milestone achievement through intensive dual-track technical and political negotiations. This strategy broke through years of stalemate and finalises the last outstanding item in the Paris Agreement. \n \nArticle 6 provides trusted and transparent carbon markets for countries as they collaborate to reach their climate goals. This cross-border cooperation is expected to reduce the cost of implementing countries’ national climate plans (NDCs) by up to $250 billion per year.\n \nThe COP29 Presidency encourages Parties to reinvest these savings in even greater climate ambition. The next generation of NDCs, due in February, are make-or-break for the world’s hopes of keeping 1.5 degrees within reach. Today’s milestone has been reached just in time to aid countries in committing to more ambition in their climate plans. \n \n“We have ended a decade-long wait and unlocked a critical tool for keeping 1.5 degrees in reach,” said COP29 President Mukhtar Babayev. “Climate change is a transnational challenge and Article 6 will enable transnational solutions. Because the atmosphere does not care where emissions savings are made.”\n \nCOP29 Lead Negotiator Yalchin Rafiyev commented, “Today, we have unlocked one of the most complex and technical challenges in climate diplomacy. Article 6 is hard to understand, but its impacts will be clear in our everyday lives. It means coal plants decommissioned, wind farms built and forests planted. It means a new wave of investment in the developing world.”\n \nToday’s outcome was hard-won. While the Glasgow and Sharm El-Sheikh COPs were able to establish important rules, modalities and procedures for carbon markets, the final building blocks of Article 6 remained unresolved. Prior to COP29, these negotiations had stalled, resulting in a costly delay in the full functioning of this pathway to greater international climate collaboration.\n \nThe COP29 Presidency employed a dedicated approach that unlocked previous multilateral stalemates. Throughout the year, the Presidency fostered productive engagement between Parties and drove progress by bridging the technical and political discussions to create consensus. This set the ground for early adoption of Article 6.4 standards on day one of COP29, which in turn built momentum towards today’s breakthrough.\n \nThe COP29 Presidency acknowledges with gratitude the many individuals and organisations that have been working tirelessly for nearly a decade to reach this achievement. Today’s consensus would not have been possible without the progress they achieved through their years of efforts. \n \nThe decisions unanimously adopted today on Article 6 will play a pivotal role in ensuring environmental integrity, transparency and robustness of carbon markets through real, additional, verified and measurable emission reductions and removals, while also unleashing their enormous potential to drive global climate investment. \n \nThe guidelines and rules adopted are designed to ensure that carbon projects maintain practicality and inclusivity, respect human rights and provide support to sustainable development, enabling countries and project developers to cooperate under the Paris Agreement with confidence. The adoption of these decisions does not mark the end of their evolution. The Parties can continually adjust the Article 6 rulebook as they learn by doing."])</script><script>self.__next_f.push([1,"2a:T65e,A panel discussion titled “Building Tomorrow: The Legacy of COP29 in Azerbaijan” took place in the Green Zone on November 22, the final day of COP29. The event was jointly organised by the COP29 Azerbaijan Operating Company and GILTEX, the Green Zone’s Textile Partner. The panel focused on the long-term impact and shaping of the COP29 legacy.\n \nThis closing discussion, held after eleven days of the conference, highlighted COP29’s legacy in driving sustainable development and combating climate change both locally and globally.\n \nModerated by Jeyhun Atayev, Head of COP29 Legacy Initiatives, the panel discussion focused on the long-term impact of Azerbaijan hosting COP29 on sustainable development. The panel, featuring Malini Mehra, CEO of GLOBE International; Natavan Mammadova, Executive Director of the National Confederation of Entrepreneurs (Employers) Organizations of the Republic of Azerbaijan and member of the COP29 Organizing Committee; Marcos Neto, Director of the UNDP’s Sustainable Finance Hub; and Farida Akhundova, Executive Director of the Azerbaijan Textile Association, discussed how Azerbaijan leveraged hosting this global event to accelerate its green transition, strengthen global partnerships, and enhance its climate resilience. Participants shared their perspectives on opportunities for Azerbaijan to create a lasting legacy of climate leadership. \n \nThe discussion also touched upon advancements in corporate ESG (Environmental, Social, and Governance), investment in renewable energy and innovation, and policy changes geared towards building a sustainable, low-carbon future.2b:T65e,A panel discussion titled “Building Tomorrow: The Legacy of COP29 in Azerbaijan” took place in the Green Zone on November 22, the final day of COP29. The event was jointly organised by the COP29 Azerbaijan Operating Company and GILTEX, the Green Zone’s Textile Partner. The panel focused on the long-term impact and shaping of the COP29 legacy.\n \nThis closing discussion, held after eleven day"])</script><script>self.__next_f.push([1,"s of the conference, highlighted COP29’s legacy in driving sustainable development and combating climate change both locally and globally.\n \nModerated by Jeyhun Atayev, Head of COP29 Legacy Initiatives, the panel discussion focused on the long-term impact of Azerbaijan hosting COP29 on sustainable development. The panel, featuring Malini Mehra, CEO of GLOBE International; Natavan Mammadova, Executive Director of the National Confederation of Entrepreneurs (Employers) Organizations of the Republic of Azerbaijan and member of the COP29 Organizing Committee; Marcos Neto, Director of the UNDP’s Sustainable Finance Hub; and Farida Akhundova, Executive Director of the Azerbaijan Textile Association, discussed how Azerbaijan leveraged hosting this global event to accelerate its green transition, strengthen global partnerships, and enhance its climate resilience. Participants shared their perspectives on opportunities for Azerbaijan to create a lasting legacy of climate leadership. \n \nThe discussion also touched upon advancements in corporate ESG (Environmental, Social, and Governance), investment in renewable energy and innovation, and policy changes geared towards building a sustainable, low-carbon future.2c:T67c,Throughout the year, the COP29 Presidency has been pushing for a fair and ambitious new climate finance goal, taking into account the needs and priorities of developing country Parties.\n \nWe conducted an extensive and inclusive consultation process that extended into the early hours of the morning.\n \nWe gave all groups the opportunity to react to the package of texts we released yesterday morning and we thank them for their constructive engagement. \n \nTaking into account the views expressed during the consultations, and what we heard from Parties at yesterday’s Qurultay, we have now published updated texts.\n \nThese texts form a balanced and streamlined package for COP29. The COP29 Presidency urges Parties to study this text intently, to pave the way towards consensus, on the few options remaini"])</script><script>self.__next_f.push([1,"ng.\n \nAs a first reflection of Parties indications the New Collective Quantified Goal decision contains a call on all Parties to work together to scale up financing to developing countries for climate action from all public and private sources to at least USD 1.3 trillion per year by 2035.\n \nFurther, reflecting the submission of developed country parties, it includes a decision to set a goal in extension of the goal of jointly mobilizing USD 100 billion per year, with developed country Parties taking the lead, to USD 250 billion by 2035 for developing country Parties for climate action. \n \nWe will further engage with Parties to collectively agree final adjustments to the few outstanding yet important issues.\n \nWe will continue to work hard, inclusively and transparently, to press all sides for the highest ambition outcome possible.2d:T67c,Throughout the year, the COP29 Presidency has been pushing for a fair and ambitious new climate finance goal, taking into account the needs and priorities of developing country Parties.\n \nWe conducted an extensive and inclusive consultation process that extended into the early hours of the morning.\n \nWe gave all groups the opportunity to react to the package of texts we released yesterday morning and we thank them for their constructive engagement. \n \nTaking into account the views expressed during the consultations, and what we heard from Parties at yesterday’s Qurultay, we have now published updated texts.\n \nThese texts form a balanced and streamlined package for COP29. The COP29 Presidency urges Parties to study this text intently, to pave the way towards consensus, on the few options remaining.\n \nAs a first reflection of Parties indications the New Collective Quantified Goal decision contains a call on all Parties to work together to scale up financing to developing countries for climate action from all public and private sources to at least USD 1.3 trillion per year by 2035.\n \nFurther, reflecting the submission of developed country parties, it includes a decisi"])</script><script>self.__next_f.push([1,"on to set a goal in extension of the goal of jointly mobilizing USD 100 billion per year, with developed country Parties taking the lead, to USD 250 billion by 2035 for developing country Parties for climate action. \n \nWe will further engage with Parties to collectively agree final adjustments to the few outstanding yet important issues.\n \nWe will continue to work hard, inclusively and transparently, to press all sides for the highest ambition outcome possible.2e:T79d,Baku, Azerbaijan - Alongside high-level talks in the Blue Zone, COP29’s Green Zone programming continued its series of events. On November 21, the COP29 Azerbaijan Operating Company hosted another session in the Green Zone.\n \nA panel session titled “SIDS’ Ecosystems and Communities Amid Climate Change” discussed the challenges faced by developing SIDS in combating the escalating impacts of climate change. Moderated by Vanuatu’s Special Envoy to COP29, Ali Serim, the discussion included The Rt Hon Patricia Scotland QC, Secretary-General of the Commonwealth; Dr Maina Talia, Minister of Home Affairs, Climate Change, and Environment of the Government of Tuvalu; Dr Rebecca Nadin, Director of Global Risk and Resilience Programme at ODI Global; Angelique Pouponneau, Advisor at the Permanent Mission of Palau to the United Nations; and Murad Jamalov, Head of Thematic Processing at the Geospatial Information Systems Centre of the Space Agency of the Republic of Azerbaijan (Azercosmos).\n \nThe panel highlighted how issues ranging from sea-level rise and extreme weather events to the loss of vital ecosystems make small island developing states (SIDS) particularly vulnerable. The session discussed the socio-economic consequences of climate change for these nations, including displacement, livelihood losses, and the weakening of economies reliant on marine and coastal resources. The degradation of natural ecosystems and the resulting threats to biodiversity and the livelihoods of indigenous communities were also key discussion points.\n \nPanellists "])</script><script>self.__next_f.push([1,"stressed the importance of continuous monitoring and responsive action to combat climate change and its impacts. They emphasized the need for climate-resilient infrastructure, equipping younger generations with the necessary skills and knowledge, enhancing local adaptation capacities, and developing strategies that integrate ecosystem protection with community-led solutions.2f:T79d,Baku, Azerbaijan - Alongside high-level talks in the Blue Zone, COP29’s Green Zone programming continued its series of events. On November 21, the COP29 Azerbaijan Operating Company hosted another session in the Green Zone.\n \nA panel session titled “SIDS’ Ecosystems and Communities Amid Climate Change” discussed the challenges faced by developing SIDS in combating the escalating impacts of climate change. Moderated by Vanuatu’s Special Envoy to COP29, Ali Serim, the discussion included The Rt Hon Patricia Scotland QC, Secretary-General of the Commonwealth; Dr Maina Talia, Minister of Home Affairs, Climate Change, and Environment of the Government of Tuvalu; Dr Rebecca Nadin, Director of Global Risk and Resilience Programme at ODI Global; Angelique Pouponneau, Advisor at the Permanent Mission of Palau to the United Nations; and Murad Jamalov, Head of Thematic Processing at the Geospatial Information Systems Centre of the Space Agency of the Republic of Azerbaijan (Azercosmos).\n \nThe panel highlighted how issues ranging from sea-level rise and extreme weather events to the loss of vital ecosystems make small island developing states (SIDS) particularly vulnerable. The session discussed the socio-economic consequences of climate change for these nations, including displacement, livelihood losses, and the weakening of economies reliant on marine and coastal resources. The degradation of natural ecosystems and the resulting threats to biodiversity and the livelihoods of indigenous communities were also key discussion points.\n \nPanellists stressed the importance of continuous monitoring and responsive action to combat climate ch"])</script><script>self.__next_f.push([1,"ange and its impacts. They emphasized the need for climate-resilient infrastructure, equipping younger generations with the necessary skills and knowledge, enhancing local adaptation capacities, and developing strategies that integrate ecosystem protection with community-led solutions.30:Tb98,"])</script><script>self.__next_f.push([1,"COP29 Declaration on Water for Climate Action endorsed by almost 50 countries.\nDeclaration also endorsed by non-state actors including WWF, Water.org \u0026 Water Equity, Stockholm International Water Institute and the Islamic Development Bank.\nBaku Dialogue on Water for Climate Action launched, to improve continuity on water between COPs. \nNovember 21st, Baku: In the final day of its thematic agenda, the COP29 Presidency launched Water for Climate Action, part of its Action Agenda. This programme includes a declaration, so far endorsed by nearly 50 countries, which commits to taking integrated approaches to combat the causes and impacts of climate change on water basins, paving the way for greater regional and international cooperation. \n \nIt also calls for the integration of water-related mitigation and adaptation measures in national climate policies, including NDCs and NAPs. To support these efforts, signatories will work together to strengthen the generation of scientific evidence on the causes and impacts of climate change on water resources and water basins, including through data sharing and the creation of new basin-wide climate scenarios.\n \nThe declaration has been endorsed by prominent non-state actors, including WWF, Water.org \u0026 Water Equity, Stockholm International Water Institute and the Islamic Development Bank.\n \nThe Baku Dialogue on Water for Climate Action was also launched today in an event featuring high-level representatives from the European Union, Finland, Gambia, Germany, Moldova, the Netherlands, Slovenia, the United Arab Emirates, the United Kingdom, and the United States. The platform builds collaboration between COPs on water and its interplay with climate change, biodiversity loss, pollution and desertification—ensuring this important topic stays on the climate agenda.\n \nCommenting on the Water for Climate Action launch, COP29 President Mukhtar Babayev said, “Water is the link that flows between the climate, biodiversity and desertification crises. By enhancing collaboration between countries and between COPs, the Water for Climate Action initiative will allow us to act on all three fronts.”\n \nInger Andersen, Under-Secretary-General of the United Nations and Executive Director of the United Nations Environment Programme remarked, “As the impacts of the climate crisis become ever more extreme, it has never been more important for the world to manage freshwater ecosystems. The Baku Dialogue on Water for Climate Action launched today at COP29 will help strengthen water priorities within the global climate agenda. UNEP looks forward to working with Member States and the COP29 Presidency to drive this important agenda forward.”\n \nThe launch of the Water for Climate Action marks the end of the Presidency’s thematic day calendar, which brought together the Presidency, its partners and other actors to drive progress across climate change pillars and their intersecting topics."])</script><script>self.__next_f.push([1,"31:Tb98,"])</script><script>self.__next_f.push([1,"COP29 Declaration on Water for Climate Action endorsed by almost 50 countries.\nDeclaration also endorsed by non-state actors including WWF, Water.org \u0026 Water Equity, Stockholm International Water Institute and the Islamic Development Bank.\nBaku Dialogue on Water for Climate Action launched, to improve continuity on water between COPs. \nNovember 21st, Baku: In the final day of its thematic agenda, the COP29 Presidency launched Water for Climate Action, part of its Action Agenda. This programme includes a declaration, so far endorsed by nearly 50 countries, which commits to taking integrated approaches to combat the causes and impacts of climate change on water basins, paving the way for greater regional and international cooperation. \n \nIt also calls for the integration of water-related mitigation and adaptation measures in national climate policies, including NDCs and NAPs. To support these efforts, signatories will work together to strengthen the generation of scientific evidence on the causes and impacts of climate change on water resources and water basins, including through data sharing and the creation of new basin-wide climate scenarios.\n \nThe declaration has been endorsed by prominent non-state actors, including WWF, Water.org \u0026 Water Equity, Stockholm International Water Institute and the Islamic Development Bank.\n \nThe Baku Dialogue on Water for Climate Action was also launched today in an event featuring high-level representatives from the European Union, Finland, Gambia, Germany, Moldova, the Netherlands, Slovenia, the United Arab Emirates, the United Kingdom, and the United States. The platform builds collaboration between COPs on water and its interplay with climate change, biodiversity loss, pollution and desertification—ensuring this important topic stays on the climate agenda.\n \nCommenting on the Water for Climate Action launch, COP29 President Mukhtar Babayev said, “Water is the link that flows between the climate, biodiversity and desertification crises. By enhancing collaboration between countries and between COPs, the Water for Climate Action initiative will allow us to act on all three fronts.”\n \nInger Andersen, Under-Secretary-General of the United Nations and Executive Director of the United Nations Environment Programme remarked, “As the impacts of the climate crisis become ever more extreme, it has never been more important for the world to manage freshwater ecosystems. The Baku Dialogue on Water for Climate Action launched today at COP29 will help strengthen water priorities within the global climate agenda. UNEP looks forward to working with Member States and the COP29 Presidency to drive this important agenda forward.”\n \nThe launch of the Water for Climate Action marks the end of the Presidency’s thematic day calendar, which brought together the Presidency, its partners and other actors to drive progress across climate change pillars and their intersecting topics."])</script><script>self.__next_f.push([1,"4:[\"$\",\"$16\",null,{\"fallback\":[\"$\",\"$L17\",null,{}],\"children\":[\"$\",\"$L18\",null,{\"reason\":\"next/dynamic\",\"children\":[\"$\",\"$L19\",null,{\"title\":[\"$\",\"$L14\",null,{\"flexDirection\":\"column\",\"gap\":{\"base\":1,\"xl\":3},\"children\":[[\"$\",\"$L14\",null,{\"gap\":2,\"alignItems\":\"center\",\"color\":\"textOpacity7\",\"children\":[[\"$\",\"$L1a\",null,{\"name\":\"calendar\",\"fill\":true,\"color\":\"text\"}],[\"$\",\"$L15\",null,{\"variant\":{\"base\":\"text-5\",\"md\":\"text-2\"},\"children\":\"18 Sep, 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