UNFCCC- COP29

Context

The Conference of Parties (COP) 29 of UNFCCC will be held in Baku (Azerbaijan).

About  United Nations Framework Convention on Climate Change (UNFCCC)

• It establishes the legal framework for international cooperation on climate change.
• It was signed in 1992.
• Conference of the Parties (COP) is the main decision-making body of the UNFCCC.
  • Its meeting is held every year.

Key Concepts

• NCQG (New Collective Quantified Goal on Climate Finance):
  • NCQG sets a climate finance target specifically to aid developing nations in their climate adaptation and mitigation efforts.
  • COP29 is expected to focus on setting this new quantified goal..
• NDC (Nationally Determined Contributions):
  • NDCs are national climate action plans under the Paris Agreement, outlining each country’s targets for reducing greenhouse gas emissions.
  • They include strategies for both mitigation and adaptation.
  • NDCs are submitted every five years.
• Global Warming:
  • Global warming refers to the steady increase in Earth’s average surface temperature, primarily due to human activities.
  • It is largely driven by the accumulation of greenhouse gases like CO₂ and methane in the atmosphere.
• Greenhouse Gases (GHGs):
  • GHGs trap solar radiation in the atmosphere, leading to global warming.
  • Key GHGs: carbon dioxide (CO₂), methane (CH₄) and nitrous oxide (N₂O).
• Carbon Offset:
  • A carbon offset or carbon credit, allows organisations to compensate for emissions by investing in emissions-reduction projects elsewhere.
  • These projects can include reforestation, renewable energy initiatives and carbon capture.
• Loss and Damage:
  • It refers to the financial resources required to address the irreversible impacts of climate change on vulnerable nations.
• Net Zero:
  • It is a state where the amount of GHGs emitted by human activities is balanced by the amount removed from the atmosphere. (India’s Net Zero target 2070).
  • It does not require zero emissions but a net-neutral impact to prevent further increases in atmospheric GHG levels.
• War Emissions:
  • War emissions are the greenhouse gas emissions that result from armed conflicts and the preparation for them.
  • According to latest estimates the first two years of the Russia-Ukraine war have contributed over 175 million tonnes of CO2 equivalent of emissions, including projected emissions estimated from reconstruction.

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