World leaders will meet in Baku, Azerbaijan, from November 10 to 22 for the 29th Conference of the Parties (COP29) to address serious climate financing concerns. This year’s theme, known as “the finance COP,” aims to determine how much wealthier nations should spend to assist disadvantaged countries facing severe climate impacts. More than 40,000 attendees, including diplomats, scientists, environmentalists, and corporate leaders, will work together to win real climate finance commitments.
However, the recent election in the United States has raised questions about the country’s climate policies. Donald Trump’s reelection implies potential alterations in US climate action, which might affect the country’s commitment to the Paris Agreement and participation in COP meetings. Trump has previously referred to climate agreements as “unfair” and stated that the United States will withdraw from the Paris Agreement in 2025, thus complicating global climate endeavours.
COP29 President-designate Mukhtar Babayev emphasised the importance of strong climate financing, saying, “Billions of people are counting on us to deliver adequate climate finance.” The meeting also highlights the 42% reduction in greenhouse gas emissions required by 2030 to satisfy the Paris goals.
