The COP29 UN Climate Change Conference, held in Baku concluded with a landmark agreement to increase public climate finance for developing countries to $300 billion annually by 2035
The COP29 UN Climate Change Conference, held in Baku, Azerbaijan, concluded with a landmark agreement to increase public climate finance for developing countries to $300 billion annually by 2035. This forms part of a broader goal to scale up public and private funding to $1.3 trillion per year by the same date, under the New Collective Quantified Goal on Climate Finance (NCQG).
Simon Stiell, UN Climate Change Executive Secretary, emphasized the significance of the deal: “This agreement is an insurance policy for humanity amid worsening climate impacts.” He called for commitments to be met promptly to protect lives and support the global transition to clean energy.
Key Outcomes
Carbon Markets: After years of negotiation, rules were finalized for carbon trading under the Paris Agreement, ensuring transparency, environmental integrity, and protections for Indigenous Peoples.
Transparency: Enhanced climate reporting advanced significantly, with new tools supporting the submission of Biennial Transparency Reports (BTRs).
Adaptation: A roadmap was adopted to accelerate National Adaptation Plans (NAPs), alongside initiatives to strengthen the role of Indigenous Peoples and local communities.
Gender Equality: The Lima Work Programme on Gender and Climate Change was extended for 10 years, with a new gender action plan set for COP30.
Civil Society Participation: COP29 saw record attendance and meaningful engagement from children, youth, and marginalized communities.
While progress was celebrated, Stiell acknowledged unmet expectations and underscored the need for intensified efforts leading to COP30 in Brazil. The outcomes signal a step forward in achieving the goals of the Paris Agreement and addressing the climate crisis collaboratively.
Azerbaijan is calling for closer regional cooperation with Central Asian neighbors to confront the escalating climate crisis in the Caspian Sea, said Mukhtar Babayev, Azerbaijan’s presidential climate envoy and COP29 President, in an interview with The Times of Central Asia.
Azerbaijan is advancing its global climate leadership with an ambitious new initiative to expand climate financing to $1.3 trillion, in collaboration with Brazil, following the landmark COP29 summit held in Baku.
Azerbaijan’s leadership as COP29 President was praised during high-level meetings in Mexico, where the two countries discussed climate diplomacy and the expansion of bilateral ties.
A delegation led by Yalchin Rafiyev, Deputy Minister of Foreign Affairs of the Republic of Azerbaijan and Chief Negotiator of COP29, participated in Climate Week in Panama, held from May 19–21, 2025, in Panama City.
With a global outlook and local context, Baku Climate Action Week (BCAW) will convene key stakeholders—from policy and finance to science, culture, and civil society—to help lay the foundations for a successful COP30. This will be the second time Azerbaijan has hosted BCAW.
Ukraine's Air Force announced Saturday morning that it had shot down a Russian Su-35 fighter jet during a successful operation in the Kursk direction.
Kharkiv faced its most intense assault since the war began, as Russia launched a deadly overnight attack using drones, missiles, and guided bombs.
Mayo Clinic researchers have validated a blood test's high precision for diagnosing patients with cognitive impairment.This non-invasive, cost-effective breakthrough, detailed in Alzheimer's & Dementia, offers much-needed hope for earlier intervention and better management.
While the world's attention is often captured by rising sea levels, another critical environmental crisis is unfolding beneath our feet: land subsidence.
China's Foreign Minister Wang Yi is scheduled to participate in the Ministerial Meeting of Coordinators on the Implementation of the Follow-up Actions of the Forum on China-Africa Cooperation (FOCAC) and the opening ceremony of the Fourth China-Africa Economic and Trade Expo.
A bridge collapse in the Vygonichsky district of Russia’s Bryansk region, near the Ukrainian border, caused a train derailment and a traffic accident early Sunday, killing at least seven people and leaving 30 injured, according to emergency services.
Ukraine’s Security Service (SBU) has confirmed it carried out a third targeted attack against the Crimean Bridge, also known as the Kerch Bridge, early Tuesday morning, marking a new escalation in the ongoing conflict with Russia.
A strong 6.3 magnitude earthquake shook Japan’s Hokkaido prefecture early Monday, causing no reported injuries or damage, and no tsunami warning was issued, officials confirmed.
Peace talks between Russia and Ukraine ended abruptly in Istanbul on Monday, lasting just over an hour amid mounting tensions following a major Ukrainian drone strike on Russian strategic bombers and renewed pressure from the U.S. for a breakthrough.
U.S. President Donald Trump and Chinese President Xi Jinping are expected to speak this week to discuss recent trade tensions, White House press secretary Karoline Leavitt said.
While the world's attention is often captured by rising sea levels, another critical environmental crisis is unfolding beneath our feet: land subsidence.
The NGO Ocean Cleanup, in collaboration with the Guatemalan government and local communities, has installed the largest trash barrier to date on the Motagua River. This major effort aims to capture and remove vast amounts of garbage before it reaches the sea.
A surge of over 200 wildfires across Canada has forced tens of thousands to evacuate, with smoke drifting into the U.S. Midwest, triggering health alerts and affecting daily life on both sides of the border.
Japanese researchers have unveiled a new plastic that fully dissolves in seawater within hours, offering a promising solution to the escalating crisis of ocean pollution and microplastics.
Prosecutors in Brazil have filed a lawsuit to annul a $180 million carbon offset agreement signed by the state of Para, citing legal and ethical violations in the high-profile rainforest conservation initiative backed by major global firms.
Ukraine's Air Force announced Saturday morning that it had shot down a Russian Su-35 fighter jet during a successful operation in the Kursk direction.
Kharkiv faced its most intense assault since the war began, as Russia launched a deadly overnight attack using drones, missiles, and guided bombs.
Mayo Clinic researchers have validated a blood test's high precision for diagnosing patients with cognitive impairment.This non-invasive, cost-effective breakthrough, detailed in Alzheimer's & Dementia, offers much-needed hope for earlier intervention and better management.
While the world's attention is often captured by rising sea levels, another critical environmental crisis is unfolding beneath our feet: land subsidence.
China's Foreign Minister Wang Yi is scheduled to participate in the Ministerial Meeting of Coordinators on the Implementation of the Follow-up Actions of the Forum on China-Africa Cooperation (FOCAC) and the opening ceremony of the Fourth China-Africa Economic and Trade Expo.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment