COP29: a COP to forget [Yahoo! Finance]
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Source: Yahoo! Finance
COP stands for ‘Conference of the Parties' and is an annual global summit where countries negotiate climate action strategies and assess their progress. 2024's conference takes place from 11 to 22 November. The conferences have led to large-scale changes in the past. The 21st COP (COP21) led to the 2015 Paris Agreement, which saw nearly 200 countries—including the US and China, the world's two largest polluters—agree to take action to limit global temperature increases to 1.5°C above pre-industrial levels. This year's conference will focus primarily on climate finance. It will aim for something called a ‘new collective quantified goal' (NCQG) for climate financing. This goal will replace a previous target of $100bn annually by 2020, which developed nations failed to meet on time. The NCQG is seen as essential for mobilising funding for developing countries to help them addressclimate change. One report from the Grantham Institute of the London School of Economics has estimated th
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