Foreign Office of the Federal Republic of Germany
Foreign Office of the Federal Republic of Germany
11/11/2024 | Press release | Distributed by Public on 11/12/2024 06:00
Working together to preserve a world worth living in – the 29th Climate Change Conference (COP29) gets underway in Baku
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- Working together to preserve a world worth living in - the 29th Climate Change Conference (COP29) gets underway in Baku
Working together to preserve a world worth living in - the 29th Climate Change Conference (COP29) gets underway in Baku
29th Climate Change Conference in Baku, © NurPhoto
Transitioning away from fossil fuels to renewable sources of energy, halting deforestation, climate finance - at COP29, we want to make progress on all of these issues.
The Federal Foreign Office is being represented in Baku by Foreign Minister Baerbock, Minister of State Lührmann and State Secretary Morgan.
Starting on 11 November, the international community is gathering in Baku, Azerbaijan, for the 29th Climate Change Conference (COP29). One of the main topics at COP29 is climate finance. The current funding goal of 100 billion US dollars per year will expire in 2025. Industrialised countries had committed themselves to collectively spending this amount annually on mitigation measures in developing countries. The German Government is campaigning at COP29 for the establishment of a new approach to climate finance. It is clear that public funds alone will not be enough: business needs incentives to step up its investment.
We want to overhaul global climate finance. Everyone who can afford it and can contribute is now called upon to take action - traditional industrialised countries as well as all states with sufficient economic strength.
- Foreign Minister Annalena Baerbock
Both in Germany and at international level, investments in the green transition are also investments in global stability - and thereby also in the security of Germany and Europe. In Europe alone, the climate crisis in 2023 caused an estimated 13.4 billion euro in damage - so not taking action would also mean incurring tremendous additional costs. 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 global conflict.
Killer storms, droughts, a constant succession of floods of the century and new heat records being set all the time: the climate crisis is the greatest security challenge of our day and age. It rages irrespective of elections.
- Foreign Minister Annalena Baerbock
Important decisions were taken at COP28 in Dubai, for example on transitioning away from fossil fuel energy, the worldwide tripling of renewable power capacity and the doubling of energy efficiency improvements, as well as halting deforestation. The German Government wants continue down this path and, in cooperation with the international community, look for ways to enact these decisions - for example, through the expansion of electricity grids and the exchange of green transition experts.
At the Climate Change Conference, we will work hard together to implement and accelerate what we as an international community have already decided, such as fully transitioning away from fossil fuel energy and rapidly expanding renewable energies.
- Foreign Minister Annalena Baerbock
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