Carbon credits and climate finance primary focus
The 2024 Conference of the Parties climate summit kicked off on Monday in Baku, Azerbaijan. Over the next two weeks, delegates from nearly 200 countries gather to discuss how to limit the consequences of climate change. New funding for green energy in developing countries, and a rethink of carbon credit trading regulation, are among the issues on the agenda.
"The willingness and ability to pay isn't necessarily there, so one of the key issues that we expect to be at the forefront of COP in Baku is the idea of finance – of who pays."So far, primarily developed countries have paid into the climate finance funds, as they are historically also among the largest contributors to global emissions.
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