COP 29: Key Takeaways

The recently held COP29 in Baku, Azerbaijan, from November 11 to 24, 2024, wrapped up with conflicting conclusions. While the major outcomes involve the set up of carbon market laws, an emphasis on sustainable cooling technologies, and enhanced climate goals by countries like the UAE, UK, and Brazil, the sufficiency of the climate finance poses a great challenge as the developing countries voice discontent against the $300 billion annual pledge, having been vouching for $1.3 trillion annually. The sustainable efforts made by the UAE, with its huge investments in renewable energy and ambitious net-zero target, made the nation’s progress in climate action a talking point at the summit. The forthcoming COP30 will have an integral part to play in resolving the pending issues and expediting the course of climate action.