Key Terminology and Concepts at COP29

Sub: Env

Sec: Climate Change

Why in News

The 29th Conference of Parties (COP29) under the United Nations Framework Convention on Climate Change (UNFCCC) is currently taking place in Baku. This annual summit brings together global leaders and experts to address pressing climate issues, develop actionable policies, and set future climate targets. Here are some key terms and initiatives essential for understanding the global climate action framework.

United Nations Framework Convention on Climate Change (UNFCCC):

Established in 1992, the UNFCCC is a global treaty that commits almost 200 countries to combat climate change and reduce greenhouse gas emissions. It provides the foundation for all subsequent climate agreements, including the COP summits, where participating nations discuss progress and future commitments.

COP (Conference of Parties):

The annual gathering of countries that have ratified the UNFCCC treaty. This year marks the 29th meeting, known as COP29, being held in Baku. COP conferences allow member nations to review progress, discuss challenges, and set new targets to address climate change.

New Collective Quantified Goal on Climate Finance (NCQG):

A central topic at COP29, the NCQG aims to set a funding target to support climate action in developing countries.
The NCQG is intended to set a new global climate finance target for developed countries to support developing nations in their climate action efforts. It’s meant to succeed and expand upon the previous goal of mobilizing $100 billion annually by 2020, which was established at the 2009 Copenhagen Climate Conference.

Nationally Determined Contributions (NDC):

The national pledges by countries to cut emissions are voluntary.
The Paris Agreement requires all Parties to put forward their best efforts through “nationally determined contributions” (NDCs) and to strengthen these efforts in the years ahead.
This includes requirements that all Parties report regularly on their emissions and on their implementation efforts.
In 2018, Parties will take stock of the collective efforts in relation to progress towards the goal set in the Paris Agreement.
There will also be a global stock take every 5 years to assess the collective progress towards achieving the purpose of the Agreement and to inform further individual actions by Parties.
The next round of NDCs is due in February, with some nations planning early submissions at COP29 in Baku.

Global Warming:

Refers to the increase in Earth’s average surface temperature due to rising greenhouse gas emissions.
Primarily results from human activities, such as burning fossil fuels and deforestation.

Climate Change:

Climate Change refers to long-term shifts and alterations in temperature, precipitation, wind patterns, and other aspects of the Earth’s climate system.
These changes can occur due to natural processes, such as volcanic eruptions and solar cycles, or due to human activities, most notably the burning of fossil fuels, deforestation, and industrial processes.
Human-induced climate change, primarily caused by increased greenhouse gas emissions, has led to global warming and intensified weather events, such as droughts, floods, and storms.

Greenhouse Gases (GHGs):

Gases that trap heat in the Earth’s atmosphere, contributing to global warming. Major GHGs include carbon dioxide (CO₂) and methane (CH₄).
Primarily released from fossil fuel combustion, agriculture, and industrial activities.

Net Zero:

Achieving net zero emissions means that any greenhouse gases released are balanced by removal or offset efforts, such as reforestation or carbon capture technologies.
Net zero aims to stabilize atmospheric GHG levels, thus limiting global warming.

Loss and Damage:

At COP28, governments pledged $800 million to a Loss and Damage Fund, assisting nations impacted by climate-induced disasters.
The fund’s director and host nation will outline how these funds will be allocated and seek additional contributions from member nations.

Carbon Offset (Carbon Credit):

A mechanism that allows countries or companies to compensate for emissions by investing in environmental projects elsewhere.
Carbon offsets are purchased to balance emissions, helping entities reach net-zero targets.

Article 6 of the Paris Agreement:

Article 6 of the Paris Agreement provides for market and nonmarket approaches in achieving Nationally Determined Contributions (NDCs).
On markets, Article 6 has been finally resolved in a balanced manner that takes into account the concerns of developing countries.
The Article 6 market mechanisms will play a crucial role in driving investments from private and public enterprises into India and help us achieve our mitigation and adaptation targets.