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🌍 𝐂𝐎𝐏𝟐𝟗: 𝐌𝐢𝐥𝐞𝐬𝐭𝐨𝐧𝐞𝐬, 𝐌𝐢𝐬𝐬𝐞𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬, 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐑𝐨𝐚𝐝 𝐀𝐡𝐞𝐚𝐝 𝐭𝐨 𝐂𝐎𝐏𝟑𝟎 🌱 ✅ 𝐖𝐡𝐚𝐭 𝐝𝐢𝐝 𝐂𝐎𝐏𝟐𝟗 𝐚𝐜𝐜𝐨𝐦𝐩𝐥𝐢𝐬𝐡? 💰 𝐀 𝐍𝐞𝐰 𝐆𝐥𝐨𝐛𝐚𝐥 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐓𝐚𝐫𝐠𝐞𝐭 Delegates established a "New Collective Quantified Goal for climate finance" to support developing countries, comprising two components: 💸 $𝟏.𝟑 𝐭𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐩𝐞𝐫 𝐲𝐞𝐚𝐫 𝐭𝐨 𝐛𝐞 "𝐞𝐧𝐚𝐛𝐥𝐞𝐝" 𝐛𝐲 𝐚𝐥𝐥 𝐚𝐜𝐭𝐨𝐫𝐬. 🌍 $𝟑𝟎𝟎 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐧𝐧𝐮𝐚𝐥𝐥𝐲 𝐟𝐨𝐫 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐞𝐝 𝐜𝐨𝐮𝐧𝐭𝐫𝐢𝐞𝐬 𝐭𝐨 𝐥𝐞𝐚𝐝 𝐢𝐧 𝐝𝐞𝐥𝐢𝐯𝐞𝐫𝐢𝐧𝐠. While these targets represent a significant increase from previous commitments, they fall short of the estimated $1.3 trillion per year needed to keep global warming under 1.5°C. 🌐 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐚𝐥𝐢𝐳𝐢𝐧𝐠 𝐂𝐚𝐫𝐛𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭𝐬 (𝐀𝐫𝐭𝐢𝐜𝐥𝐞 𝟔) Progress was made in establishing a global framework for carbon markets: 🔄 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐓𝐫𝐚𝐝𝐞 𝐨𝐟 𝐌𝐢𝐭𝐢𝐠𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐜𝐨𝐦𝐞𝐬 (𝐀𝐫𝐭𝐢𝐜𝐥𝐞 𝟔.𝟐): Clarified procedures for countries to authorize carbon credit transactions and manage tracking registries, ensuring environmental integrity through transparent technical reviews. 🛡️ 𝐂𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐳𝐞𝐝 𝐂𝐚𝐫𝐛𝐨𝐧 𝐂𝐫𝐞𝐝𝐢𝐭𝐢𝐧𝐠 𝐌𝐞𝐜𝐡𝐚𝐧𝐢𝐬𝐦 (𝐀𝐫𝐭𝐢𝐜𝐥𝐞 𝟔.𝟒): Introduced mandatory safeguards to protect the environment and human rights, including obtaining informed consent from Indigenous Peoples. ❌ 𝐖𝐡𝐚𝐭 𝐝𝐢𝐝𝐧’𝐭 𝐦𝐨𝐯𝐞 𝐟𝐨𝐫𝐰𝐚𝐫𝐝? ⛽ 𝐅𝐨𝐬𝐬𝐢𝐥 𝐅𝐮𝐞𝐥 𝐏𝐡𝐚𝐬𝐞𝐨𝐮𝐭 Despite discussions, COP29 did not achieve a consensus on phasing out fossil fuels. The host nation's economic reliance on oil and gas, coupled with geopolitical complexities, contributed to the lack of concrete commitments in this area. 💵 𝐀𝐝𝐞𝐪𝐮𝐚𝐭𝐞 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 The agreed-upon $300 billion annual climate finance pledge by 2035 was criticized as insufficient, with many developing nations advocating for a minimum target of $500 billion. This shortfall highlights the ongoing challenge of mobilizing adequate resources to support vulnerable countries in their climate efforts. 🔜 𝐖𝐡𝐚𝐭’𝐬 𝐧𝐞𝐱𝐭? 𝐋𝐨𝐨𝐤𝐢𝐧𝐠 𝐭𝐨𝐰𝐚𝐫𝐝𝐬 𝐂𝐎𝐏𝟑𝟎 💡 𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐞: Developed nations need to fulfill and exceed current pledges, ensuring financial support aligns with the actual needs of developing countries to combat climate change effectively. 📉 𝐀𝐜𝐜𝐞𝐥𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐅𝐨𝐬𝐬𝐢𝐥 𝐅𝐮𝐞𝐥 𝐏𝐡𝐚𝐬𝐞𝐨𝐮𝐭: Achieving a global consensus on reducing fossil fuel dependency is critical to meet the Paris Agreement targets. 📈 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧𝐢𝐧𝐠 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥𝐥𝐲 𝐃𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐞𝐝 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧𝐬 (𝐍𝐃𝐂𝐬): Countries should submit more ambitious NDCs by 2025, emphasizing renewable energy adoption and comprehensive climate adaptation strategies. Sustainability Switch Consultancy
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