• Climate finance: One of the most notable achievements was the agreement on a new quantified collective target (NOCC) for climate finance. Developed countries committed to providing at least $300 billion annually until 2035 to support developing nations in their energy transition and adaptation to climate change. However, many experts consider this figure insufficient to address the magnitude of the crisis.
• Carbon markets: Significant progress was made in defining the rules for carbon markets, which will allow countries to trade emission reductions in a more transparent and efficient manner.
• Loss and damage: Progress was made in launching the Loss and Damage Response Facility (LDRF), a crucial mechanism to help the most vulnerable countries face the irreversible impacts of climate change.
• Increased ambition: Countries were urged to submit more ambitious Nationally Determined Contributions (NDCs) by 2025, with more demanding targets for 2030 and 2035. The Mission 1.5°C Roadmap also sought to drive more concrete actions to limit global warming.

There are many challenges and also criticisms:

• Insufficient targets: Despite progress, many experts consider that the established targets are still insufficient to limit global warming to 1.5°C, as established in the Paris Agreement.
• Lack of concrete commitments: Some critics point out that the agreements reached lack concrete commitments by the main emitters of greenhouse gases.
• Inequality: A large gap persists between developed and developing countries in terms of financing and capacity to adapt to climate change.

COP29 marked a step forward in the fight against climate change, but much remains to be done. The international community must redouble its efforts to accelerate the transition to a low-carbon economy and protect the most vulnerable populations.