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During his address at the 79th session of the United Nations General Assembly in New York, Azerbaijan Foreign…
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The outlined focal points include advancing the development of fully functional carbon credit markets and establishing a Climate Finance Action Fund. The novel fund is envisioned to serve as a source for climate finance pooled from voluntary contributions made by countries and companies active in the fossil fuel industry. The collected funds will go towards the creation of climate projects in developing countries.As announced by Bayramov, the COP29 Action Agenda will include 14 new initiatives intended to accelerate climate action and stimulate a transition towards sustainability. These initiatives cover topics such as zones and corridos for green energy, energy storage, strengthening climate resilience, clean hydrogen, reducing methane from organic waste, and catalyzing green action in the digital sphere. «Big organizations are supporting the VCM,» Valerio Magliulo, Abatable CEO & Co-FounderOn September 29, 2024, International Peace Day, the presidency of COP29 officially launched the Joint Solemn Appeal for a COP29 Truce.Following this publication, the climate event in Baku will introduce the COP29 Truce Initiative, promoting peace during the summit and giving attendants “an opportunity to set differences aside and contribute to global peace and the climate agenda,” as noted by Bayramov.Relevant: Key Insights From The World Bank Report On International Carbon MarketsAccording to him, more than 1,000 bodies have already endorsed the Truce Initiative, including various non-governmental organizations (NGOs), faith leaders, several countries and governments, and esteemed individuals. Bayamon stated, “We call on everyone to transcend political divergences, stand in unity, and respect the Truce during the month of COP29.”In this year’s edition, the COP29 summit, pressed by a dynamic geopolitical scene and ongoing conflicts, will provide a global neutral space where leaders, policymakers, climate advocates, and other relevant stakeholders can address urgent climate issues and map out future action to address the climate crisis. Read more: Tackling The Climate Crisis Through Article 6 Of The Paris Agreement 0 0 0 AzerbaijanCOP29United Nations General AssemblyLeave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment *Name * Email * Website Save my name, email, and website in this browser for the next time I comment. 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