Azerbaijan is actively transitioning to green energy in response to global challenges, focusing on the utilization of renewable resources. As the host of COP29, the country is taking significant steps to combat global warming. In preparation for this prestigious event, the COP29 Presidency organized a Pre-COP gathering on October 10 and 11, where climate leaders and government officials convened to engage in vital discussions.

It is important to note that the Pre-COP29 event serves as a crucial platform for the Parties to continue climate negotiations ahead of the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), which will be held in November.

Pre-COP29 discussions will focus on key priorities ahead of COP29, including climate finance (especially the New Collective Quantitative Target), mitigation, adaptation, and the inclusion of vulnerable communities in global climate solutions through the Loss and Damage Response Fund, all aimed at achieving fundamental progress.

At the opening of the event, the designated president of COP29, Mukhtar Babayev, conveyed the address of the President of the Republic of Azerbaijan, Ilham Aliyev, to the participants. In his address, President Aliyev emphasized, "The main task before us is to agree on a fair and ambitious New Collective Quantitative Target that meets the needs of developing, least developed, and small island states. The new financial goal requires a significant increase."

So, what is the New Collective Quantitative Target?

The New Collective Quantified Goal (NCQG) in COP29 refers to an updated and ambitious target for climate finance aimed at supporting developing countries in their efforts to combat climate change and transition to sustainable practices.

It builds on the previous goal of mobilizing $100 billion per year, focusing on enhancing support for adaptation and resilience. The NCQG is intended to address the increasing needs for climate finance, especially in light of the escalating impacts of climate change, and to foster collaboration among nations to achieve meaningful progress in global........

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