Conference
The anagram stands for "Conference of the Parties". The first COP was held in Berlin in 1995. It followed the international treaty formed in 1992, the United Nations Framework Convention on Climate Change, as a framework for international cooperation to combat climate change by limiting average global temperature increases and the resulting climate change, and coping with impacts that were, by then, inevitable. The annual COP is the conference of the parties to the convention, and its decision-making event.
