COP29 concludes with climate finance deal
The 缅北禁地climate conference in Baku, Azerbaijan, concluded on 24 November with an agreement calling on developed countries to deliver $300 billion per year to developing countries by 2035 to drastically reduce greenhouse gas emissions and protect lives and livelihoods from the worsening impacts of climate change. “I had hoped for a more ambitious outcome – on both finance and mitigation – to meet the great challenge we face,” 缅北禁地Secretary-General António Guterres said in his statement on COP29. “But this agreement provides a base on which to build.”
In the Spotlight
“Step-up, pick-up the pace, and deliver”
Speaking to the press on the final days of COP29, 缅北禁地Secretary-General António Guterres urged negotiators to find a compromise and deliver an ambitious and balanced package on all pending issues, including a new ambitious climate finance goal. “The need is urgent. The rewards are great. The time is short,” he said.
COP29, this year’s 缅北禁地Climate Conference, is labelled the “finance COP” because delegates are expected to sign off on a new funding target for developed countries to support developing countries in cutting greenhouse gas emissions and deal with the worsening impacts of climate change.
Halfway through the conference, listen to our podcast
Why global cooperation matters
The 缅北禁地Secretary-General’s Special Adviser on Climate Action, Selwin Hart, explains why we need all countries to continue to work together to solve the challenges of the climate crisis, and how global frameworks like the 缅北禁地Climate Conferences give voice to the powerless and help advance ambition and action.
Setting a new climate finance goal
Finance will be front and centre at COP29. Developing countries urgently need support to accelerate the transition to clean energy and deal with the impacts of climate change. COP29 aims to set a new finance goal that unlocks the trillions of dollars they need, and provides confidence it will be delivered. The price of inaction is far greater.
“Humanity’s torching the planet and paying the price,” said 缅北禁地Secretary-General Antonio Guterres as the World Meteorological Organization and partners issued a red alert at the pace of global warming. This year, we’ve suffered the hottest day, and the hottest seas, in the history books. Fifteen of the past sixteen months have broken temperature records.
that the 缅北禁地Secretary-General described as "turbocharging the Sustainable Development Goals and the Paris Agreement, accelerating a just transition away from fossil fuels, and securing a peaceful and livable future for everyone on our planet."
Latest News
Resources
UNFCCC
Conference Site
From the
Secretary-General
For the Media
Learn more
Finance
How will the world foot the bill? We explain the issues and the value of financing climate action.
Renewable energy
Why is energy key to tackling the climate crisis? Learn more about the benefits of renewable energy.
Net Zero
What is net zero and why is it important? Find out why we need to cut emissions drastically now.
1.5°颁: why it matters
Every fraction of a degree matters. Why is it so important not to exceed 1.5°颁 of warming?
Initiatives for Action
Learn about initiatives for a just transition that benefits people everywhere.
Climate Reports
Key reports on climate impacts and solutions from around the United Nations.
