Germany tops up funds for climate protection abroad by 500 million euros – media report

German lawmakers have agreed to increase funds to support climate protection in foreign countries by 500 million euros, reports Spiegel Online. The Green-led economy and climate ministry will now have a total of 1.5 billion euros for “investments to protect the climate and biodiversity abroad” at its disposal over the coming ten years, according to the agreement by the parliament’s budget committee. Green party budget expert Sven-Christian Kindler told Spiegel Online that the money could be used to create sustainable development and new, fair jobs. "Poor people in the Global South in particular, who are least responsible for the climate crisis, suffer the most," Kindler said.

Overall, annual public international climate finance by Germany amounts to more than six billion euros. Topping-up of such international climate funds will underline the important message that Germany is invested in supporting a transition globally to partners at the UN climate change conference COP28 next month, as industrialised countries are under particular scrutiny from emerging and developing countries, writes Spiegel Online.