Our Scans · Baku · Weekly Summary

• A COP 30 host country's press release notes that among other COP 30 outcomes, Brazil's incoming Presidency expects a 'Baku-Belem Road Map,' detailing the steps needed to reach USD 1.3 trillion by 2035 in climate finance, as required by new collective quantified goal on climate finance. IFC Review
• In 2009, developed countries agreed to raise $100 billion annually to support climate action in the developing world, which was replaced by a new goal of $300 billion a year at COP 29 in Baku last November, potentially scaling up to $1.3 trillion a year by 2035. GreenAir News
• A quick refresher of what COP 29 was meant to achieve: dubbed a 'finance COP', countries were expected to come to Baku, Azerbaijan ready to present in good faith various finance deals to strengthen the global response to climate change. Greenpeace International
• At COP 29 in Baku, Azerbaijan, a breakthrough of sorts was made, with the adoption of an agreement to triple the amount of climate finance paid to developing countries, to $300 billion per year, by 2035. UN News
• COP 29's negotiations in Baku, Azerbaijan in November will focus on financing for climate responses and energy transitions, a theme that Brics has addressed consistently, calling for more financial support from developed countries. Polity.org.za
• The most recent COP 29 summit in Baku, Azerbaijan, concluded with rich countries pledging to contribute $300bn a year by 2035 to help poorer nations combat the effects of climate change. Al Jazeera
• At COP 29 in Baku, developed-country parties such as the EU, the US and Japan agreed to help raise at least $300bn a year by 2035 for climate action in developing countries. Carbon Brief
• Negotiators from around 200 countries met in Baku, Azerbaijan over the past two weeks to decide on a new international climate finance goal, outlining how wealthier economies will support developing countries in their efforts to mitigate and adapt to climate change. Clean Energy Wire
• Countries in Baku are trying to negotiate an agreement - New Cumulative Quantitative Goal or NCQG on climate finance - that will mobilise at least USD one trillion every year for climate action around the world. The Indian Express
• COP 29 in Baku has the potential to reshape global climate finance and provide a clear direction for international climate action. Eurasia Review
• The success of the annual UN climate summit in Baku will hinge upon climate finance, which largely depends on wealthy countries agreeing to release more funds to mitigate and adapt to the impacts of the climate crisis to developing nations. Mongabay Environmental News
• Following the 2023 Global Stocktake, 2024's COP 29 climate talks in Baku will be a defining moment for climate action, particularly when it comes to finance. Changing Transport
• 2024's UN climate conference, COP 29 in Baku, Azerbaijan, will be dominated by negotiations over the new collective quantified goal, the finance target for the funds that will be channelled to developing nations over the next decade to help them tackle climate change. Carbon Brief
• The United States, under Harris, will do its best to act on climate change, but it will still need to overcome sticky conflicts over climate finance for the world's poorest countries to advance climate diplomacy in Baku. Brookings
• The upcoming COP 29 in Baku, Azerbaijan, presents an opportunity for Bangladesh and other developing countries to continue advocating for a new global climate finance goal commensurate with the scale of the climate crisis and its disproportionate impact on vulnerable populations. The Business Standard
• Worsening relations between Baku and the European institution provides Moscow with an opportunity to strengthen its influence in Azerbaijan. SpecialEurasia
• A key part of the negotiations in Baku will be agreeing new finance commitments for the cash that developing countries need to green their economies and cope with the already inevitable impacts of climate change. Lancashire Telegraph
• The COP 29 climate summit in Azerbaijan's capital Baku will be among the highest-profile multilateral events attended by Taliban administration officials since they took control in Kabul after 20 years of fighting NATO-backed forces. investing.com
• For the next two weeks, governments will gather by the Caspian Sea in Baku, Azerbaijan, to discuss how to increase financing for climate adaptation and mitigation. The Guardian
• The IIPP team will now turn its attention to COP 29 in Baku, Azerbaijan, putting one key message front and center: we will not solve climate change if we do not solve the water crisis. UCL Institute for Innovation and Public Purpose
• Nations are gathering in Baku, Azerbaijan, for the latest round of UN climate talks, where they will be tasked with setting a target for channelling climate finance into developing countries. Carbon Brief
• COP 29 is likely to be held in Baku, the capital of Azerbaijan, after Eastern European countries endorsed the oil-rich country's bid to host the UN's climate summit in 2024. Fortune
• Officials meeting in Baku next month for the COP 29 summit hope to agree on new finance targets to help developing countries respond to climate change, including ditching fossil fuels. Tech Xplore

Last updated: 26 June 2025