Overview

• Olaf Scholz's decision to skip COP29 comes after the sudden breakdown of his ruling coalition, leading to political instability in Germany.
• The absence of Scholz means only two G7 leaders, from the UK and Italy, are expected to attend the climate conference in Baku.
• The COP29 summit, dubbed the 'finance COP,' aims to secure funding for developing countries' transition away from fossil fuels.
• Several other world leaders, including those from France, Canada, and Brazil, have also opted out of attending the conference.
• The conference's significance has increased with Donald Trump's return to the U.S. presidency, as he threatens to withdraw from the Paris climate accord.