BAKU: Finance will be the main topic of discussion at COP29, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) Simon Stiell said at the 'Enhancing Ambition, Enabling Action: COP29 Sustainable Business Forum' event on May 17, Trend reports. "All countries must submit their nationally determined contributions (NDCs) by the beginning of next year. They should form the basis for global transformations aimed not only at reducing emissions but also at protecting people, increasing the number of jobs, and stimulating inclusive economic growth. However, for many countries, the ability to implement ambitious climate plans depends on whether the world agrees to a new climate finance agreement in Baku. This goal meets the needs of developing countries," he mentioned. According to him, it's particularly gratifying to see Azerbaijan hosting COP29, where special attention will be given to climate finance. "As we transition to a low-carbon economy, it is important that this transi tion is just and does not negatively impact people. This means supporting workers, investing in education and vocational training, and protecting communities from climate impacts," Stiell added. To note, this November, Azerbaijan will host COP29. This decision was made at the COP28 plenary meeting held in Dubai on December 11 last year. Baku will become the center of the world and will receive about 70-80,000 foreign guests. The United Nations Framework Convention on Climate Change is an agreement signed at the Earth Summit in Rio de Janeiro in June 1992 to prevent dangerous human interference with the climate system. COP - the Conference of the Parties - is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change. There are 198 countries that are parties to the Convention. Unless the parties agree otherwise, the COP is held annually. The first COP event took place in March 1995 in Berlin, and its secretariat is located in Bonn. Source: Trend News Agency