COP29 Presidency outlines major climate finance goals on new 'Key developments in Baku' page

The COP29 Presidency has launched a dedicated webpage titled “Key developments in Baku”, summarizing the main outcomes and future action plans regarding the "green" transition and climate change mitigation.

According to a report shared on the official COP29 page on the "X" social network, the team has set an ambitious objective for this year: to increase climate finance for developing countries to at least $1.3 trillion per year by 2035, along with finalizing the multi-year negotiation process on the New Collective Quantitative Goal (NCQG).

The NCQG will become the first ever agreed quantitative target for climate finance dedicated to developing countries and is set at three times the previous goal.

Print version