Germany outlines ambitious climate goals for GOP29

We aim to achieve more progress at COP29 on issues like moving away from fossil fuels, stopping deforestation, expanding renewable energy use, and climate financing.

1xeber.media reports that this was stated by the German Foreign Ministry in a statement on Germany’s goals for COP29.

In the statement titled “Working Together to Protect a Livable World - The Start of the 29th World Climate Conference (COP29) in Baku,” it was emphasized that climate financing is the main topic of discussion at COP29. It was noted that the previous annual financing target of $100 billion is set to conclude in 2025, with industrialized countries pledging to mobilize this amount every year to support environmental protection efforts in developing countries. The statement highlighted that public funds alone are insufficient for this effort, and the federal government will work at COP29 to establish a new approach to climate financing.

“We want to fundamentally reshape global climate financing. This requires everyone who can contribute and afford to do so, including both traditionally industrialized and economically capable countries,” the German Foreign Minister stated.

It was also noted that investments in green transformation in Germany and internationally contribute to global stability and, thereby, to the security of Germany and Europe. In Europe alone, the climate crisis caused approximately 13.4 billion euros in damage in 2023. Failing to act would mean even greater additional costs.