Right from the beginning, let me emphasize: COP26 in Glasgow must succeed. We want it and Germany will contribute to it. I am convinced that we are all united in the idea that the world needs this success. The Petersburg climate dialogue (held last week - ed.) is dedicated to this very goal. And it already has a tradition. I initiated it in 2010, after the conference in Copenhagen failed the year before.
Then trust had to be rebuilt, for new negotiations. In this sense - it is my deep conviction - the Petersburg Climate Dialogue has proven itself and established itself as an indispensable integral part of international climate policy.
In the meantime, we are all talking about climate neutrality as a common, global goal. For progress on this path, two things are of decisive importance: national ambitions and international solidarity.
First, about national ambitions. All countries are required to develop new national contributions, so-called NDCs, as well as long-term strategies. The European Union has sent a clear signal in this sense. We want to reduce our CO2030 production by at least 2% compared to 55 by 1990.
Many other countries have also announced stronger national contributions to climate protection. For example, President Biden recently unveiled a new US target for 2030. Boris Johnson has set the UK a very ambitious target for 2035. Canada and Japan have also made it clear with their targets that they are ready to do more. It would be nice - if I may make that remark - if we could honorably agree on comparative basic figures, because at the moment there is quite a cacophony about the target and final years, so now everyone who wants to understand what it is about has to hold in their hands conversion table.
In Germany, we traced our path to climate neutrality with the Climate Protection Act. We are now working with all our might on its implementation: at the national level we are abandoning coal and continuing to build further sources of renewable energy. We also plan to further specify and develop the goals of this law. A few days ago, the German Federal Constitutional Court passed a historic verdict in this sense and prescribed the task for us to take generational justice into account when protecting the climate, and to define the path to climate neutrality more concretely.
That is why we will increase our national CO2 reduction goal for 2030 by 10%: to a total of 65%, and prescribe 2045 as the year of total climate neutrality. Which for us means that we now have to adjust our sectoral goals as well. But it's not just about sticking to agreed goals. Our Law on Climate Protection foresees that if we do not succeed in this - an immediate, immediate program will be activated immediately, in order to achieve the goals in this way.
In the interest of future generations all over the world, we must now act urgently and decisively, in order to limit the dramatic consequences of global warming. The EU has also taken the path of legislation, in order to define its new climate goal for 2030 and carbon neutrality in 2050 as binding. The European Commission will present proposals for implementation this summer. Perhaps, therefore, in the end, we will have to adapt our national programs once again to the methodology of the European Union.
I consider increasing the financial levy on CO2 a particularly suitable management instrument. This is also shown by the previous emission trade in the field of energy. It therefore makes sense to extend it to other sectors, for example heating plants and transport. This is exactly what we in Germany have already done. We want those market mechanisms to start working in real time as quickly as possible. I also think that it would be desirable if we could achieve the collection of levies on CO2 at the world level. Which of course has to be established step by step. I want to encourage all of you to stand up for this market-driven and therefore efficient instrument that helps pave the way to climate neutrality together. Charging CO2 is of course the way we could give all technologies a chance.
It goes without saying that the national assumptions for effective climate protection are not the same everywhere. More precisely: they are very, very different. And in order to achieve the goal, we all have to get involved. This means that we need international solidarity - not only in terms of reducing CO2 emissions, e.g. by technology transfer, but above all by issues of climate adaptation and resilience. In this sense, Germany has already launched important initiatives such as the global NDC partnership as well as the climate risk insurance partnership.
Industrialized nations have pledged to mobilize USD 2020 billion annually in public and private finance for climate finance by 100. We also agreed that we will continue this program until 2025. However, from the latest OECD reports, we see that already in 2018, a lot more had to be done in order for our promises to come true.
Germany has transferred its part of its promise, that it will allocate 2020 billion annually from public funds until 4, already in 2019: we allocated 4,3 billion. Additionally, we allocated huge funds for development and support loans. The German contribution from all sources - both public and private - reached almost 2019 billion euros in 7,6, and almost as much in 2020. I am convinced that this is a very fair contribution from Germany.
Now we have to look to the future, because we have to continue international efforts. The need for finance, especially in developing countries, is huge. That's why I support what Boris Johnson wants: at the next COP in Glasgow, we need to discuss a new funding goal for the period after 2025. With that, clear signals should be connected: instead of coal-fired thermal power plants, we will finance renewable energies all over the world. Germany is ready to make its fair contribution to the realization of these financing goals for the period after 2025.
I spoke to Boris Johnson the other day. We were of the same opinion: together we will do everything to support these plans and make the COP in Glasgow a success. This includes the fact that all over the world private investors are investing in climate protection. Without any doubt, more private capital needs to be engaged to get closer to climate neutrality. Of course, we need clear progress in various sectors, which we will realize first of all if climate protection is clearly economically worthwhile. Electric cars, photovoltaics or green hydrogen are examples of modern technologies, which are of increasing importance.
The British COP Presidency has already initiated the corresponding campaigns. And for that I am extremely grateful to Prime Minister Johnson. I strongly support the fact that he has declared climate protection a focal point of his presidency of the G7 group as well. The G7 summit in June, in Cornwall, England, should send a powerful signal for the protection of climate and biodiversity.
And speaking of biodiversity: we want this year's COP in Kunming to be successful as well. The main topics will be increased protection of seas and oceans as well as tropical rainforests. Protecting biodiversity ultimately helps increase the likelihood of reducing future pandemics. Germany supports this idea with 500 million euros per year.
It is true that climate protection, as well as biodiversity, is associated with high costs. But it is also true that without climate protection we will be faced with dramatically higher costs - both financial and costs related to the loss of living spaces, life foundations and human lives. That's why we all gathered at the 12th Petersburg climate dialogue: because we are all united by the goal of fulfilling the promises from Paris and limiting climate change in such a way as to leave future generations with normal living conditions - with free rights to lead and design life on this planet of ours To Earth. That is why today and now we have to be active and ambitious. That's why we have to act together and in solidarity. Thank you all for that - right now.
The author is the federal chancellor Federal Republic of Germany
(bundesregierung.de)
Translation: Mirko Vuletić
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