The 29th Conference of the Parties to the UNFCCC, brought together over 60,000 participants — delegates, negotiators, scientists, activists, and business leaders from around the world — for two weeks of essential negotiations, insightful discussions, and collaborative efforts to address the climate crisis with urgency and ambition.
COP29, known as the”Finance COP” marked significant progress in addressing the climate crisis. Key outcomes included a commitment to scale up climate finance, with a new annual goal of $300 billion for developing countries and $1.3 trillion by 2035. The adoption of international carbon market standards under Article 6 finalized a framework for cost-effective emission reductions.
Social justice was central, with the operationalization of the Loss and Damage Fund and $730 million pledged for projects starting in 2025 to support vulnerable nations. Innovation, digitalization, and sustainable energy transitions, such as boosting hydrogen production, were also prioritized. The ‘Baku Call on Climate Action for Peace, Relief, and Recovery’ emphasized climate action’s role in fostering resilience, particularly in conflict-affected regions.
AE4RIA team— affiliated with Athens University of Economics and Business, Technical University of Denmark, Athena Research Center, and UN Sustainable Development Solutions Network – Global Climate Hub — contributed significantly by hosting sessions, engaging in key dialogues, and collaborating on impactful projects and initiatives aimed at advancing climate solutions and fostering global sustainability!
