(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 14. The primary focus at COP29 remains on limiting global warming to 1.5 degrees Celsius, with the phase-out of fossil fuels also standing as a central issue, Hungary's representative to the European Union Council Veronica Baghi said at a press conference, Trend reports.

"We must ensure that financial support reaches the countries that are most vulnerable to climate impacts, while also sending a clear signal to the private sector, as a full green transition will not be achievable without its involvement," Baghi said.

The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will run until November 22, opened at the Baku Olympic Stadium on November 11.

The UN Framework Convention on Climate Change is an agreement signed at the Rio Earth Summit in June 1992 to prevent dangerous human interference in the climate system. The acronym COP (Conference of Parties) stands for“Conference of Parties” and is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.

A total of 198 countries are parties to the Convention. Unless otherwise decided by the parties, COP is held annually. The first COP event was held in March 1995 in Berlin, and its secretariat is located in Bonn.

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