She has already worked for months to ensure that we are well positioned for the negotiations with our partners around the world, and she led the German negotiating delegation during the technical talks at the beginning of COP One of the main topics at COP29 is climate finance.
The current funding goal of billion US dollars per year will expire in The industrialised countries had committed themselves to collectively mobilising this amount annually for mitigation measures in developing countries.
It is clear that public funds alone will not be enough β businesses need incentives to step up their investment, too.
In recent days, through many rounds of negotiations, we have laid the initial groundwork for a new approach to climate finance. A lot of money is at stake, and the negotiations are tough and difficult. Our offer still stands: Germany and Europe remain reliable partners for financing the global climate transition. After all, in Germany and at international level, investments in the green transformation are also investments in global stability and thereby in the security of Germany and Europe.
In Europe alone, the climate crisis caused an estimated Every tenth of a degree of global warming that is prevented reduces the number of floods and forest fires as well as general instability, which in turn lowers the potential for conflict globally. The climate crisis is the biggest security policy challenge of our times.
