At the climate conference in Baku - already named in advance the "finance COP" - the results of the negotiations on new financing targets and commitments, bundled under the term NCQG (New Collective Quantified Goal), were eagerly awaited. With a goal of annual USD 300 billion of climate finance, the result is disappointing and falls far short of the USD 1.3 trillion per year that experts say is necessary. Other negotiations also proved to be tough. The negotiations on technology development and transfer focused primarily on the structure of the “technology implementation program”.
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The 2024 Bonn Climate Change Conference, consisting of the 60th sessions of the Subsidiary Bodies (SB60), convened from 3rd to 13th of June at the World Conference Center in Bonn, Germany. Discussions covered crucial topics like the Global Stocktake (GST), the New Collective Quantified Goal on Climate Finance (NCQG), the Mitigation Work Programme (MWP), adaptation, loss and damage, and other implementation matters under the Paris Agreement. However, the meeting concluded with progress proving difficult on many fronts.
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With a global warming potential of 24,300, sulphur hexafluoride (SF6) is an extremely harmful greenhouse gas, predominantly used in the power sector. Given grid expansion projects around the world, along with major switchgear replacement, emissions are at risk of rising in the future.
The German Federal Ministry for Economic Affairs and Climate Action (BMWK) sees the need for urgent and coordinated action to tackle SF6 emissions from grid infrastructure globally.
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