COP29: achieving net zero through financial sustainability

Abstract Conference of Parties (COP) provide a critical platform to global leaders to review and discuss targets related to achieving the Paris Agreement, and the sustainable development goals. This yearly summit has become a key part of the policy-making sector, allowing actors from different sectors to come together and take action on anthropogenic climate change. At the recently held COP29 summit, important decisions regarding financial flow in the climate sector were taken. These goals aim to increase funding for climate actions, particularly in developing nations, and help reduce human and economic damage from anthropogenic weather disasters. While the decisions promise a huge increase in channeling of funds to developing nations, some critical issues remain in the targets. This article aims to assess the outcomes and decisions taken at COP29 and their benefits and disadvantages, particularly for the developing nations. It also discusses steps that can be taken to further improve these outcomes.