The 29th UN Climate Change Conference begins in Azerbaijan
Published: Monday, Nov 11th 2024, 05:50
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The 29th United Nations Climate Change Conference begins in Azerbaijan on Monday. At COP29, as it is abbreviated, the participating countries are to adopt a new collective financial target for investments in global climate protection.
At the 2015 climate conference in Paris, it was agreed that industrialized countries would make 100 billion US dollars available annually for climate protection measures in developing countries by 2025. Environmental organizations are calling for 1,000 billion Swiss francs to be made available annually.
In Baku, Switzerland will try to increase the number of donor countries for investments in global climate protection. All countries should contribute to financing climate protection investments "according to their means", especially "wealthy countries with high greenhouse gas emissions".
This was announced by the Federal Office for the Environment (FOEN) before the conference. It is no longer just industrialized countries that should pay, but also countries such as China and Saudi Arabia, the FOEN specified on request.
In the Azerbaijani capital of Baku, it is also planned to adopt rules for the implementation of a global market mechanism. As the Federal Council recently announced, this mechanism will allow countries to implement climate protection projects abroad and have the emission reductions achieved counted towards their climate target.
The countries' new climate targets for the period up to 2035 are also to be prepared. They must be submitted by 2025. The conference will last two weeks. Federal Councillor Albert Rösti will take part in the second week.
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