India, Feb. 18 -- The 29th Conference of the Parties (COP 29) under the United Nations Framework Convention on Climate Change (UNFCCC) concluded in Baku, Azerbaijan, on November 24, 2024. While key expectations regarding climate finance remained unmet, significant progress was achieved in carbon market regulations. A landmark agreement on carbon trading rules was reached, aiming to accelerate climate action by enabling countries to meet their emission reduction goals efficiently and cost-effectively. Under its Nationally Determined Contributions (NDCs), the country initially aimed to reduce greenhouse gas (GHG) emission intensity by 33-35 per cent from 2005 levels by 2030, later revising this target to 45 per cent in 2022. India has launc...