SOLAR AND CLEAN FUELS EXAMINING THE COP TALKS
STRENGTHENING SOLAR AND CLEAN ENERGY AT THE UN’S COP29
A s a climate finance deal at COP29 in Baku, Azerbaijan, in November teetered on the brink of collapse, negotiations went into overtime, with delegates finally finalizing a deal to triple public finance to developing countries, from the previous goal of $100 billion to $300 billion annually by 2035. This new collective quantified goal (NCQG) was agreed to following two weeks of intensive negotiations and several years of preparatory work – in which all participating countries had to unanimously agree on the final amount, date and specific text. Many countries, particularly developing ones, regarded the deal as wholly inadequate, falling significantly short of the $1.3 trillion they demanded. But as United Nations secretary general António Guterres commented in his closing remarks in Baku, this deal represented a significant “starting point” in protecting those on the frontlines of climate disasters, with much more needed, and soon. With climate finance representing the central theme at COP29 At COP29 in Baku, nations agreed to triple FOLPDWHƓQDQFHWRELOOLRQDQQXDOO\E\ 2035, operationalize carbon markets under Article 6, and set ambitious targets for UHQHZDEOHHQHUJ\K\GURJHQDQGHIƓFLHQF\ 'HVSLWHSURJUHVVVLJQLƓFDQWJDSVLQIXQGLQJ and implementation highlight the urgency for transformative action ahead of COP30, writes Dr Ella Kokotsis .
88
THE FUTURE OF ENERGY
Made with FlippingBook - Online magazine maker