Baku
Context
The COP29 climate negotiations in Baku, Azerbaijan, were extended beyond the scheduled deadline as disagreements emerged over the New Collective Quantified Goal for Climate Finance (NCQG), highlighting the divide between developed and developing nations.
Relevance:
GS-03 (Conservation)
New Collective Quantified Goal on Climate Finance (NCQG)?
- It is the annual financial targets that the developed countries are bound to meet to provide climate finance to developing countries, starting in 2025. The previous commitment per year from the developed nations was USD 100 billion. (However, the developed countries failed in meeting the targets.).
- The NCQG provides the developing countries with the financial resources that it needs to invest in clean energy and other climate-resilient infrastructure.
- NCQG acts as a means for the developing nations to adapt to climate change.
About Baku:
- Baku is the capital of Azerbaijan.
- It is located along the western coa
st of the Caspian Sea. - The city is famously known as the world’s lowest-lying national capital and also the world’s largest city below sea level (Baku is 92 feet below sea level).
- Baku is also known for its harsh winds. It is also known as the “City of Winds.”.
- Islam is the majority religion in Azerbaijan.
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