Editorial

Global Net-Zero Carbon Emission by 2070: a distant dream

Abstract

The UN Climate Change Conference (COP29) concluded on 24 November 2024 with a new finance goal to help countries to protect their people and economies against climate disasters, and share in the vast benefits of the clean energy boom.  With a central focus on climate finance, COP29 brought together nearly 200 countries in Baku (Azerbaijan) and reached an agreement to provide 300 billion USD finance to developing countries annually by 2035 and secure efforts of all actors to work together to scale up finance to developing countries, from public and private sources, to the amount of USD 1.3 trillion per year by 2035. "This new finance goal is an insurance policy for humanity, amid worsening climate impacts hitting every country,” said Simon Stiell, Executive Secretary of UN Climate Change. Stiell also acknowledged, “The agreement reached in Baku did not meet all Parties' expectations, and substantially more work is still needed next year on several crucial issues”.  World leaders at COP29 were joined by civil society, sub-nationals, business, Indigenous Peoples, youth, philanthropy, and international organizations. More than 55,000 people attended COP29 to share ideas, solutions, and build partnerships and coalitions. COP29 marked a significant milestone as dedicated spaces were created to ensure the meaningful participation of children within the Youth-led Climate Forum for the first time. Four children, including the youngest (just 10 year old), took on roles as moderators and speakers, engaging directly with Parties and observer organizations. Their participation highlighted the importance of inclusivity and intergenerational collaboration in driving climate action.