According to the Federal Development Ministry, the money should be available to the GCF as a German contribution over the next four years. Development Minister Svenja Schulze (SPD), from whose budget the funds come, spoke of a “strong sign that Germany is taking responsibility for global climate protection”. She expressed the expectation “that other countries will also get involved according to their ability” – including those “that have not yet been among the classic donor countries”.
The German contribution is part of the federal government’s spending on international climate finance. Scholz had already announced last year at the Petersberg Climate Dialogue that Germany intends to increase the budget for this to six billion euros a year by 2025.
In his speech at this year’s climate dialogue, the Chancellor expressly reaffirmed this. “Germany stands by its promises,” he clarified. In 2021, German expenditures for international climate finance amounted to 5.34 billion euros; according to the Development Ministry, exact figures for 2022 are not yet available.
The Green Climate Fund is one of the largest climate protection funds in the world and a central element of multilateral climate finance. Developing countries attached great importance to setting up the fund so that they could have an equal say in the use of the funds. According to the German Development Ministry, around 2.5 billion tons of CO2 have been avoided with the help of the GCF in 216 projects since it was founded.
In 2014 and 2019, around 50 countries had provided a total of 18 billion dollars for the GCF. This year, a new funding conference will be held in early October. The money is used to finance climate protection measures, adaptation to the consequences of global warming and the development of a climate-friendly economy in the recipient countries. As examples, the Development Ministry cites the introduction of climate-adapted cultivation methods in Tanzania or the introduction of electromobility in public transport in India and Latin America.
