COP29: Germany steps up climate action with €1 billion for biodiversity protection

Germany will allocate 1 billion euros annually for biodiversity funding as part of its climate finance commitments starting next year. 

This announcement was made by Germany's Minister for the Environment, Nature Conservation, Nuclear Safety, and Consumer Protection, Steffi Lemke, during an event held as part of the COP29 climate conference in Baku, Caliber.Az reports, citing local media.

Lemke emphasized the need for close collaboration in planning climate actions. 

"We are working with the European Bank for Reconstruction and Development to create a financing window for private investments in nature-based solutions. The German Ministry of the Environment will allocate 8 million euros for these purposes. We are creating financial incentives for investments," the minister said.

She noted the need for clear solutions to coordinate climate actions and protect biodiversity. 

At COP29 which will run through November 22, biodiversity protection is a major focus, especially in the context of climate change and the accelerating loss of ecosystems. The conference, held in Baku, Azerbaijan, presents a unique opportunity for integrating biodiversity conservation into global climate policy. 

Currently, Baku hosts 70,000 and 80,000 international guests, including leaders from governments, businesses, and civil society, all working together to find tangible solutions to the record-high global temperatures and extreme weather events that are affecting people worldwide.

COP29 Presidency. led by Mukhtar Babyev, has developed a plan based on two mutually reinforcing pillars to enhance ambition and enable action.to deliver a process that is transparent, impartial and inclusive.

By Khagan Isayev