International Agenda
Conference of the Parties to the UNFCCC in Baku (COP29)
COP29 finalized the rules for global carbon trading under Article 6 of the Paris Agreement, allowing countries and companies to buy and sell carbon credits through a standardized system, which is particularly beneficial for developing countries. Another key outcome was the establishment of the New Collective Quantified Goal (NCQG) on climate finance, aiming to mobilize $300 billion per year by 2035 to support climate mitigation and adaptation efforts in developing nations.
