- COP29 in Baku tackles crucial topics like climate finance, carbon trading, and global emissions targets.
- Key terms like NDCs, Net Zero, and Loss and Damage drive the conversation on climate action and global commitments.
- The Paris Agreement and UNFCCC guide discussions on limiting global warming and supporting vulnerable nations.
As COP29 continues in Baku, Azerbaijan, climate discussions cover crucial topics like energy policy and funding for developing countries. Here’s a quick guide to the key terms driving this year’s summit:
UNFCCC: The United Nations Framework Convention on Climate Change, created in 1992, commits nearly 200 countries to fight global warming. The term also refers to the secretariat managing the treaty.
COP: The Conference of Parties (COP) refers to the annual meeting of countries that signed the UNFCCC. COP29 marks the 29th summit since the treaty took effect in 1994.
NCQG: The New Collective Quantified Goal on Climate Finance aims to set annual funding targets to support developing nations in their climate actions. It will be a primary focus at COP29.
NDC: Nationally Determined Contributions outline each country’s plan to cut emissions and adapt to climate impacts. The next round of pledges is due in early 2025, though some countries will update their commitments during COP29.
Global Warming: Global warming refers to the steady rise in Earth’s average temperature, primarily caused by human activities like burning fossil fuels.
Climate Change: This broader term covers global warming and its impacts, including extreme weather events, rising sea levels, and changing ecosystems.
Greenhouse Gases (GHGs): GHGs, such as carbon dioxide (CO2) and methane (CH4), trap heat in the atmosphere and drive global warming. Fossil fuel use and industrial processes produce most GHGs.
Paris Agreement: The Paris Agreement, forged at COP21 in 2015, calls on countries to limit global warming to “well below” 2°C, with a goal of 1.5°C above pre-industrial levels.
Net Zero: Net zero refers to balancing greenhouse gas emissions with efforts to remove those gases from the atmosphere. Countries aim to reach this target to stop further increases in GHG levels.
Loss and Damage: The “loss and damage” fund helps poorer countries cope with climate disasters. Countries pledged $800 million last year, and COP29 will decide how to distribute these funds and seek additional contributions.
Carbon Offset: Carbon offsets, or carbon credits, allow countries or companies to compensate for their emissions by funding projects that reduce emissions elsewhere.
Article 6: Article 6 of the Paris Agreement addresses international carbon trading. COP29 seeks to finalise rules for trading carbon credits globally.
These key terms highlight the critical issues at play during COP29. The decisions made at the summit will shape global climate actions, financial commitments, and future strategies to combat climate change.