BAKU: The BRICS organization, comprising Brazil, Russia, India, China, and South Africa, has voiced its commitment to ensuring the success of the 29th Conference of the Parties (COP29) to be held in Baku. The announcement was made through the Kazan declaration at the 16th BRICS summit, highlighting the group’s focus on advancing climate financing for developing nations.

According to Trend News Agency, the declaration emphasized the significance of achieving meaningful results in climate financing. It underscored this as a crucial mechanism for implementing both current and future nationally determined actions and targets in the areas of mitigation, adaptation, and addressing loss and damage. The BRICS nations expressed their anticipation for COP29 to deliver substantial outcomes in these domains.

Scheduled for November, COP29 will be hosted by Azerbaijan, following a decision made at the COP28 plenary meeting in Dubai on December 11 of the previous year. The United Nations Framework Convention on Climate Ch
ange, established at the 1992 Earth Summit in Rio de Janeiro, serves as the foundation for the COP meetings. These conferences, which involve 198 countries, are the highest legislative body overseeing the Convention and are typically convened annually unless otherwise agreed upon. The inaugural COP event was held in March 1995 in Berlin, Germany, with its secretariat based in Bonn.