Here are some of the phrases that are likely to crop up over the coming days in Baku
, the parent treaty to the 2015 Paris agreement. It takes place in Baku, the capital of Azerbaijan, on the shores of the Caspian Sea, where. Azerbaijan has a claim to be the world’s first petrostate, and is still dependent on oil and gas for 90% of its export revenues.
However, developed countries are unlikely to agree that much more than half of such sums could come from their taxpayers. That leaves a gap of several hundred billion dollars a year needing to be filled from other sources, which could includeSo instead of a single goal, there are likely to be at least two goals, with a narrative that explains how the gap between the two can be filled.
In the past, some experts characterised loss and damage as a form of compensation or reparations for poor countries. However, this was unacceptable to developed and large developing countries, which refused to sign legal agreements potentially leaving them liable for unlimited future costs.
The protocol eventually came into force without US backing in 2005, but by then was largely irrelevant, so countries set out on the long journey to a new treaty that would fulfil the UNFCCC aims, resulting in the 2015 Paris accord.An artwork entitled One Heart One Tree by Naziha Mestaoui is displayed on the Eiffel tower before the 2015 climate conference in Paris.
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