Azerbaijan will lead by example

THE 60th session of the Subsidiary Body for Scientific and Technological Advice, and the Subsidiary Body for Implementation (SB60) of the United Nations Framework Convention on Climate Change in Bonn, Germany, which concluded in June 2024, revealed several critical issues and setbacks, highlighting the challenges ahead in global climate negotiations. The discussions on key areas such as climate finance, loss and damage, and carbon markets demonstrated a lack of consensus and urgency needed to address the climate crisis effectively.

Significant contention remained regarding the New Collective Quantified Goal (NCQG) on climate finance. Parties from developing countries felt their concerns were not adequately addressed. The main points of contention involved the timeframe, quantum and principles of the NCQG, with developing nations advocating for substantial financial commitments from developed countries, which have yet to propose concrete figures.