The United Nations COP29, held in November 2024 in Baku, Azerbaijan, concluded with significant advancements in global climate action. Among the key outcomes was the agreement by developed nations to channel at least USD 300 billion annually into climate finance by 2035, with a broader target of USD 1.3 trillion from diverse sources. The summit also finalized the rules for a global carbon market, enabling countries to trade carbon credits and incentivize emissions reductions. However, some developing nations expressed dissatisfaction, citing insufficient financial commitments to address their climate challenges.
The International Green Trade and Commerce Association played a vital role in these discussions, advocating for the integration of sustainable trade practices into climate policies. Led by its CEO, Juan Dávila y Verdin, the association emphasized the importance of aligning trade frameworks with environmental goals. Their participation highlighted the role of trade in fostering innovation, reducing emissions, and ensuring a just transition to a green economy. The association’s efforts underscored the necessity of collaboration between governments, businesses, and international organizations to achieve meaningful climate action.
