Abstract
The 29th United Nations Climate Change Conference (COP29) held in Baku, Azerbaijan, marked a significant milestone in global climate action. The conference, dubbed the "Finance COP," focused on enhancing financial commitments to support developing nations in mitigating and adapting to climate change. Key outcomes included the establishment of a new climate finance goal, operationalization of carbon markets, and the launch of a loss and damage fund. For Pakistan, COP29's outcomes have significant implications. The country can benefit from the operationalization of the Loss and Damage Fund, which pledged $800 million to aid adaptation efforts in vulnerable regions. Pakistan must also strengthen its climate finance proposals and ensure transparency in fund utilization to attract international climate finance. Additionally, the country can benefit from carbon trading mechanisms and accelerate its transition to renewable energy sources.
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