Context

• In a first-of-its-kind initiative, Azerbaijan, which is the host of this year’s climate change conference "COP29" in November, has reached out to all the countries through a public letter asking them to enhance their climate actions.

Key Highlights

• Azerbaijan has requested to not get distracted by the “growing geopolitical tensions and focus on addressing "climate change".
• It is the first time that a host nation has issued out an open letter, explaining in detail how it wants to conduct the conference.

New Collective Quantified Goal (NCQG)

• COP29 has to deliver an important deal on finance, being referred to as a “New Collective Quantified Goal” (NCQG) on finance.
• It is a financial target that aims to support developing countries in their climate actions after 2025. 
• It's a key part of the Paris Agreement, which was signed in 2015.
• It is intended to replace the previous goal (COP21) of $100 billion per year.

UNFCCC Conference of Parties (COP)

• The Conference of the Parties (COP) is the annual international climate meeting held by the United Nations (UN) to assess progress in addressing climate change. 
• COP is the main decision-making body of UNFCCC.
• UNFCCC) is an international treaty that 198 countries have ratified as of 2022. These countries are known as "Parties to the Convention".
• First COP (1995): Berlin, Germany 
• 28th COP (2023): Dubai, United Arab Emirates
• 8th COP (2002): New Delhi, India