Germany promises continued financial contributions at US climate summit

German Chancellor Angela Merkel expressed her delight when the US announced it will halve its greenhouse gas emissions by 2030 compared to 2050.

This was announced in a release from the German Embassy on Friday.

"This national goal is a clear commitment in the fight against global warming and an important signal to the world community," said the chancellor on April 22 at the virtual climate summit, to which US President Joe Biden invited 40 heads of state and government from all over the world.

In order to achieve the global goals for reducing greenhouse gases, the world is dependent on the contribution of the United States, Merkel said. It was an important signal that the USA was back at the negotiating table to tackle the climate issue.

Germany reduced its greenhouse gas emissions by 40 per cent compared to the reference year 1990. Germany will make its contribution to achieving the now binding EU target of reducing greenhouse gases by 55 per cent by 2030, Merkel said.

Germany has already taken "important measures" on the way to greenhouse gas neutrality. One example is the CO₂ price introduced in the transport and heating sectors on January 1, 2021. The phase-out of coal will also be completed by 2038 at the latest. At the same time, Germany continues to invest in renewable energies. In 2020, 46 per cent of the country's electricity was generated from clean energy sources. Germany aims to increase this to 65 per cent by 2030.

"It was of great importance to stop the loss of biodiversity and to protect 30 per cent of the land and sea areas," Merkel said. "Solidarity with developing countries is a key element in the fight against climate change."

The industrialised countries had committed themselves to mobilising US100 billion annually by 2020 to support developing and emerging countries in climate adaptation.

"This commitment must be extended at least until 2025," the Chancellor said.

Germany has already doubled its own commitment from two to four billion euros annually. Chancellor Merkel promised to continue to make a fair contribution