• BUSINESS
    • FINANCE
    • LEGAL
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • HEALTHCARE & PHARMACEUTICALS
    • MEDIA & TELECOM
    • AEROSPACE AND DEFENSE
    • ENERGY
  • MARKETS
    • EUROPEAN MARKETS
    • ASIAN MARKETS
    • U.S. MARKETS
    • COMMODITIES
    • EMERGING MARKETS
    • DEALS
    • RATES & BONDS
  • WORLD
    • UNITED STATES
    • EUROPE
    • UNITED KINGDOM
    • ASIA PACIFIC
    • MIDDLE EAST
    • AFRICA
    • CHINA
    • INDIA
    • JAPAN
    • AMERICAS
    • FRANCE
    • GERMANY
  • POLITICS
    • GOVERNMENT
    • UNITED STATES
    • US SUPREME COURT
  • TECH
    • ARTIFICIAL INTELLIGENCE
    • CYBERSECURITY
    • SPACE
    • DISRUPTED
  • COMMENTARY
  • BREAKINGVIEWS
    • BREAKINGVIEWS PREDICTIONS
  • MONEY
    • WEALTH
    • FUNDS
    • ETFS
  • LIFE
    • LIFESTYLE
    • SPORTS
    • SCIENCE
  • SECTORS
    • ENERGY
    • HEALTHCARE
    • MEDIA & TELECOM
    • SUSTAINABILITY
    • ENVIRONMENT
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • AEROSPACE AND DEFENSE
FinanceTime
  • August 19th, 2026

FinanceTimeFinancetime

  • BUSINESS
    • FINANCE
    • LEGAL
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • HEALTHCARE & PHARMACEUTICALS
    • MEDIA & TELECOM
    • AEROSPACE AND DEFENSE
    • ENERGY
  • MARKETS
    • EUROPEAN MARKETS
    • ASIAN MARKETS
    • U.S. MARKETS
    • COMMODITIES
    • EMERGING MARKETS
    • DEALS
    • RATES & BONDS
  • WORLD
    • UNITED STATES
    • EUROPE
    • UNITED KINGDOM
    • ASIA PACIFIC
    • MIDDLE EAST
    • AFRICA
    • CHINA
    • INDIA
    • JAPAN
    • AMERICAS
    • FRANCE
    • GERMANY
  • POLITICS
    • GOVERNMENT
    • UNITED STATES
    • US SUPREME COURT
  • TECH
    • ARTIFICIAL INTELLIGENCE
    • CYBERSECURITY
    • SPACE
    • DISRUPTED
  • COMMENTARY
  • BREAKINGVIEWS
    • BREAKINGVIEWS PREDICTIONS
  • MONEY
    • WEALTH
    • FUNDS
    • ETFS
  • LIFE
    • LIFESTYLE
    • SPORTS
    • SCIENCE
  • SECTORS
    • ENERGY
    • HEALTHCARE
    • MEDIA & TELECOM
    • SUSTAINABILITY
    • ENVIRONMENT
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • AEROSPACE AND DEFENSE
German Foreign Minister Annalena Baerbock attends the Petersberg Climate Dialogue in Berlin, Germany, April 25, 2024. Liesa Johannssen
German Foreign Minister Annalena Baerbock attends the Petersberg Climate Dialogue in Berlin, Germany, April 25, 2024. Liesa Johannssen
Home
Sectors
Cop28

German ministers call on China, Gulf states to contribute climate finance

April 25th, 2024 | 12:00 PM SECTORS COP28 3

Facebook Twitter Google+ LinkedIn Pinterest

Worth reading...

German climate activists sentenced for spraying paint on Brandenburg Gate
Health-harming heat stress rising in Europe, scientists say
Exclusive: US regulator probes banks' climate risk planning
China methane reduction plan to be released soon, but may lack clear targets - sources
By Riham Alkousaa, Kate Abnett

China and other big-polluting developing countries should pay more to help poor states cope with climate change, Germany's foreign and development ministers said on Thursday, as countries prepare for U.N. negotiations on a new climate finance goal.

Rich developed countries, which agreed in past U.N. talks to provide support to help poor countries cope with climate change, are hoping to persuade countries that are so far exempt, such as China and the wealthy, high-emitting Gulf states, to join them.

"I strongly urge those who can to join our effort, and particularly the strongest polluters of today, particularly looking at the G20," Annalena Baerbock said at the opening of a climate conference in Berlin, referring to the Group of 20 which includes both rich countries and big developing economies.

At a panel during the conference, Germany's Development Minister Svenja Schulze said: "Germany will contribute, we deliver our fair share, but we also ask other ones to do so."

"It's the time of taking action and we need more countries that take their fair share - all the ones who are big emitters, also the Gulf states, also China, we all need to do more."

Asked if the European Union's recent steps to limit Chinese clean technology imports could undermine cooperation, Baerbock said Germany and Europe needed to cooperate with China on climate, adding that the race between countries to produce clean tech was positive for the green transition.

"It's a positive challenge. If everybody wants to be the first to produce climate-neutral not only cars, electricity, but in the future also big industry products, then this is the best answer for the world," Baerbock said.

The European Union earlier this month said it would investigate subsidies received by Chinese suppliers of wind turbines destined for the bloc.

COP TARGET NEGOTIATIONS

Germany hosts the annual Petersberg conferences at which countries meet to discuss the agenda of the U.N. COP climate change summit held later in the year.

Climate finance needs to rise sharply to $5 trillion a year globally by 2030 to fund measures to fight climate change, according to 2021 researchers' estimates.

Countries are preparing to negotiate a new target at the COP29 climate summit in November, for how much climate finance wealthy nations will contribute to poorer countries each year.

The list of two-dozen states obliged by U.N. agreements to contribute is made up of countries that had already become industrialised decades ago. The world's top polluter China, the Gulf states, Brazil and other big developing country emitters are excluded.

The Chinese Ministry of Ecology and Environment could not be immediately reached for comment. Beijing has repeatedly said developed countries should contribute the bulk of the finance required to help poor nations decarbonise, as part of the principle of "common but differentiated responsibilities".

Azerbaijan's Ecology Minister Mukhtar Babayev, incoming President of the COP29 summit, acknowledged the divisions between countries ahead of the U.N. negotiations.

"Climate finance has been one of the most challenging topics of climate diplomacy over the years. And we know that there are strong and well-founded views on all sides," he told the conference.

Baerbock said developing countries need over $2 trillion per year for ecological transition, half of which must come from sources within developing countries and the other half from international financial flows.

Germany will keep its climate finance commitments despite budget constraints, the foreign minister said, confirming Berlin's climate finance goal of 6 billion euros per year from 2025.

  • Topic
  • CLIMATE
  • CHANGE/GERMANY (UPDATE 2,PIX,TV)
Facebook Twitter Google+ LinkedIn Pinterest
Previous article German climate activists sentenced for spraying paint on Brandenburg Gate

Related Posts

COP28
April 23rd, 2024

German climate activists sentenced for spraying paint on Brandenburg Gat...

COP28
April 22nd, 2024

Health-harming heat stress rising in Europe, scientists say

COP28
December 14th, 2023

Exclusive: US regulator probes banks' climate risk planning

COP28
November 2nd, 2023

China methane reduction plan to be released soon, but may lack clear tar...

COP28
November 2nd, 2023

Climate's 'Catch-22': Cutting pollution heats up the planet

COP28
November 2nd, 2023

Explainer: Can solar geoengineering stop global warming?

The Wire
Aug 19th 5 h ago
Government

DOJ argues Comey novel shows he knew ‘86 47’ post was a thr...

Aug 19th 5 h ago
Business

Fed policymakers' inflation concerns increased at July meet...

Aug 19th 6 h ago
Sports

Swiss rider Poncini dies in Manx GP qualifying

Aug 19th 6 h ago
Business

Amazon plans drone delivery expansion to about 500 US local...

Aug 19th 6 h ago
Litigation

Abbott settles appeal over $495 million infant formula verd...

TRENDING ON FINANCETIME
Aug 19th, 2026 Sports

Mets' Jorge Polanco (ankle) to have season-ending surgery

Aug 19th, 2026 Sports

Reports: Phillies sign free agent LHP Nestor Cortes

Aug 19th, 2026 Business

US CFTC seeks comment on compute derivatives as AI demand grows

Aug 19th, 2026 Technology

Payments firm Stripe to buy AI developer platform OpenRouter

Aug 19th, 2026 Government

ABC says intimidation by Trump's FCC forced programming changes

Markets-Sectors
ENERGY -0.16%
FINANCIALS -0.62%

  • BUSINESS
  • MARKETS
  • WORLD
  • POLITICS
  • TECH
  • COMMENTARY
  • BREAKINGVIEWS
  • MONEY
  • LIFE
  • SECTORS
  • Back to top
FinanceTime
FinanceTime

World Business & Financial News, Breaking US & International News

Additional Services
  • Privacy-Policy
  • Terms and Conditions
© Financetime.org 2026. All rights reserved. Hosted by LeadsDeposit.com
Produced by C-iT