Climate conference: Germany pledges $100 million

At the beginning of the World Climate Conference, a fund to repair climate damage was decided - Germany is contributing the equivalent of 91 million euros, significantly more than the USA. Development Minister Schulze spoke of a “success”.

This year's United Nations Climate Change Conference (COP28) has begun in Dubai. For two weeks, around 200 states in the Gulf Emirate will discuss how to contain the climate crisis. Around 70,000 participants are expected - making the meeting the largest climate conference ever. The biggest point of contention is whether an exit from coal, oil and gas can ultimately be unanimously agreed upon.  

Climate Damage Fund is now operational

At the start of the conference, the participants formally decided to set up a disaster fund (Loss and Damage Fund) from which consequential damage caused by climate change in poor countries, such as floods or droughts, will be compensated with international funds. In principle, this fund was initiated at the climate summit in Egypt a year ago , but its final establishment was still pending and the fund was only now operational.

Several industrialized countries announced payments into the fund, with 100 million US dollars (the equivalent of around 91 million euros) coming from Germany as well as the United Arab Emirates, as Development Minister Svenja Schulze confirmed on site. The USA gives 17.5 million dollars, Great Britain 60 million dollars.

Schulze: Starting the fund is an “important decision”

“The world climate conference in Dubai begins with a success and an important decision,” said Federal Development Minister Svenja Schulze (SPD) about the establishment of the fund. She spoke of a "groundbreaking decision for the most vulnerable" and an "important decision" because for the first time not only the "classic donor countries" but also other countries took part. Schulze emphasized that many former developing countries “can now afford to bear their share of responsibility for global climate damage.” Germany wants to “engage itself as a bridge builder” here - an example of this is climate damage funds.

With its financial commitment for the new fund, the federal government earned praise from development organizations. "Very good. This is how you start a world climate conference!", explained Oxfam's climate expert, Jan Kowalzig. However, he also made it clear that this was just a beginning. In the medium term, the damage caused by global warming will “need hundreds of billions every year,” so Germany should pledge a billion euros as quickly as possible.

The federal government wants to speed things up

On the eve of the start of the World Climate Conference, four federal government ministers expressed high expectations for the meeting. The federal government is committed to "ambitious goals" in Dubai and expects a signal for "more speed, solidarity and global partnership," said Federal Foreign Minister Baerbock, Federal Economics Minister Habeck, Environment Minister Lemke (all Greens) and Development Minister Schulze (SPD) in a joint statement .

“Now it’s about picking up the pace,” warned Baerbock. The Dubai conference is “the most important global climate conference since the Paris Agreement”. The federal government is working towards three resolutions at COP28, namely "tripling renewable energies by 2030, doubling energy efficiency and gradually phasing out fossil energies."

Habeck: Triple the share of renewable energies

Climate Protection Minister Habeck pointed out the increasing share of renewable energies worldwide. “We expect a new expansion record in 2023, driven by investments primarily in China, Europe, India and the USA,” he explained: “We need to ignite this dynamic even more.” In the broadest possible alliance, the expansion must be tripled by 2030, he demanded.

Environment Minister Lemke referred to the “triple crisis of climate change, species extinction and environmental pollution”. The World Climate Conference COP28 must therefore send “a clear signal that we are pursuing solutions that focus equally on all three areas.” If it is not possible to "initiate rapid, profound changes, life on earth will change dramatically, including our lives," she warned.