Conference of Parties is an occasion where world leaders, scientists, and negotiators convene annually to drive “global climate action,” often culminating in pledges of vast financial commitments.

Here is a great summary done by Owen Evans and published by Epoch times on 8 takeaways from the first week of COP 29.



1. Controversial Host Azerbaijan- oil and natural gas bring in around 90 percent of Azerbaijan’s export revenues, financing around 60 percent of the government budget.

2. No-Shows - some prominent leaders of huge carbon emitter nations were not present in the convention which shapes the future of climate change fight. Notably the new elect Donald Trump of U.S, Argentina’s President Javier Milei, European Commission President Ursula von der Leyen, China and France.

3. Trillion-Dollar Climate Finance proposal from $100 billion. Multilateral banks have also proposed to increase their financing by 2030.

4. Carbon Credits - Surprisingly there was a deal on the first day on carbon credits. negotiators agreed to establish a U.N.-backed system for trading carbon credits, aiming to support a decade-long goal of launching a centralized carbon market by next year.

5. Nuclear energy continues to gain momentum after it got recognition as solution to climate change in COP28.

6. Climate Reparations- Loss and damage compensation by nations which have benefited hugely from fossil fuels to those who are suffering losses and have little or nothing to do with fossil fuels economically. U.N. Secretary-General António Guterres said on Nov. 12 that the creation of the Loss and Damage Fund “is a victory for developing countries, for multilateralism, and for justice.”

7. Tensions Between France and Azerbaijan - Paris is supplying arms to Armenia as tensions remain high over the contested Nagorno-Karabakh region.

8. Calls for COP Reform - " In its current structure COP simply cannot deliver the change at the exponential speed and scale essential to ensure a safe climate landing for humanity,” said the signatories, who included former UN Secretary-General Ban Ki-moon, former U.N. Climate Chief Christiana Figueres, and former President of Ireland Mary Robinson.





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Great summary!
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These takeaways highlight the ongoing efforts and challenges in addressing climate change on a global scale.
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Thank you for sharing your insights! đź’š
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The missing of world prominent leaders of huge carbon emmitter nations clearly shows how long we have to walk for a change to cleaner energy
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@kelvin_thuranira_kaberia True! Their absence is disappointing, but it highlights the urgency for collective action and stronger leadership on clean energy.