Germany has pledged two billion euros for the Green Climate Fund that will benefit emerging and developing countries. The transition to climate neutrality also needs to be funded, declared Germany’s Chancellor Olaf Scholz at the Petersberg Climate Dialogue in Berlin. The money is to be used by the countries to fund climate protection projects, adapt to climate change and establish a more climate-friendly economy. According to a government statement, the chancellor’s pledge means Germany is the first major donor to announce its contribution to the funding conference that is to be held in Bonn in early October.
Scholz also committed himself to globally binding targets for the expansion of renewable energies at the next UN Climate Change Conference. He called for “newly installed capacities to be tripled” by 2030. “This would send a clear signal to the real economy and to finance about where the journey is going,” the chancellor said. Beforehand, Germany’s Foreign Minister Annalena Baerbock had already voiced support for a global expansion target.
Representatives of more than 40 countries had gathered at the Petersberg Climate Dialogue in Berlin in preparation for the UN Climate Change Conference that will begin in the Emirate of Dubai at the end of November. The president-designate of the climate conference, Sultan Ahmed al-Dschaber, likewise committed himself in the German capital to rapidly expanding renewable energies and named similar figures as Scholz did. Since 2010, the Petersberg Climate Dialogue has brought selected countries together each year to prepare for the UN Climate Change Conference.
Source: Deutschland.de
https://www.deutschland.de/en/news/germany-pledges-two-billion-euros-for-climate-fund
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