“The most expected novelties at COP29 include the adoption of decision on climate finance within the negotiation process. A substantial document on climate finance is expected to be adopted for the first time. Moreover, the COP29 will see the adoption of up to 60 crucial decisions, with the two of them being of particular importance. The first is related to climate finance and the other to creation of carbon markets, which is linked with the Article 6 of the Paris Agreement. The adoption of the above-mentioned decisions will mark an important milestone for the COP process,” Yalchin Rafiyev, Azerbaijan’s Deputy Minister of Foreign Affairs, COP29 Lead Negotiator told journalists.
"Additionally, the COP29 Presidency has proposed 14 initiatives. Several of them are bringing greater innovation to the COP process. In this regard, I can name the Climate Finance Action Fund and COP Truce initiative. To date, 127 countries have joined the COP Truce initiative, proposed by President Ilham Aliyev for the first time in the history of COP. For the first time in the history of COP, military action is defined as a climate-damaging and creating carbon emissions activity. Thus, a decision on global truce was adopted and such an initiative was proposed. The fact that 127 states, over 1,100 international organisations, NGOs, renowned figures, religious leaders have joined the initiative is an indicator of its significance,” Rafiyev noted.
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