“Climate compensation”: German government gives away $100 million
Dubai - The federal government started the world climate conference with a surprise. Together with the host country, the United Arab Emirates, it paid half of 200 million euros for the so-called Loss and Damage Fund (L&D ) .
The money is intended to support and compensate states that are particularly hard hit by the consequences of climate change. So far, no other country has agreed to pay into the pot. It had already been decided at the climate conference a year ago in Sharm el-Sheikh, Egypt, but remained empty.
Minister: Climate compensation “a valuable signal”
Shortly after the opening of the event, Federal Development Minister Svenja Schulze (SPD) said that the money would send a “valuable signal”. Germany and the United Arab Emirates led the way: “At the same time, we jointly call on all countries that are willing and able to also contribute to the new fund against climate damage.”
Schulze's State Secretary Jochen Flasbarth and Jennifer Morgan, ex-Greenpeace boss and special climate representative of Foreign Minister Annalena Baerbock (Greens), negotiated the $200 million deal with the Emirates. After the Constitutional Court ruling on the invalidity of the German climate fund, the traffic light also increased the budget of Economics Minister Robert Habeck (Greens) for climate protection abroad by another half a billion euros .
In Egypt, it was decided in 2022 that the L&D fund could only start when starting capital of 200 million euros was paid in. This has now happened. It is managed by the World Bank.
Shortly after the opening of the event, Federal Development Minister Svenja Schulze (SPD) said that the money would send a “valuable signal”. Germany and the United Arab Emirates led the way: “At the same time, we jointly call on all countries that are willing and able to also contribute to the new fund against climate damage.”
Schulze's State Secretary Jochen Flasbarth and Jennifer Morgan, ex-Greenpeace boss and special climate representative of Foreign Minister Annalena Baerbock (Greens), negotiated the $200 million deal with the Emirates. After the Constitutional Court ruling on the invalidity of the German climate fund, the traffic light also increased the budget of Economics Minister Robert Habeck (Greens) for climate protection abroad by another half a billion euros .
In Egypt, it was decided in 2022 that the L&D fund could only start when starting capital of 200 million euros was paid in. This has now happened. It is managed by the World Bank.
Source: Junge Freiheit
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