Every tenth degree of global warming increases damage costs, warns Germany’s FM at COP29

Speaking at the ongoing COP29 climate conference today, Germany's Foreign Minister Annalena Baerbock emphasized the urgent need for global action to limit global warming to 1.5 degrees Celsius, Azernews reports.

She warned that without accelerating efforts to reduce CO2 emissions, the world would soon be unable to bear the escalating financial costs of climate damage.

Highlighting Germany's leadership within the European delegation, the Foreign Minister stressed the importance of building on the progress made at COP28 in Dubai, particularly on mitigation efforts, and expanding climate finance. She called for continued cooperation across continents to establish a framework that ensures developing nations are not left behind in the global transition to clean energy.

“Every tenth degree of global warming makes the damage more expensive. Climate finance does not work without CO2 reduction, and vice versa,” she stated. “We cannot afford to reverse the commitments we made last year. Our goal is clear: triple renewable energy expansion, double energy efficiency, and phase out fossil fuels.”

The Foreign Minister also underscored the centrality of climate justice in the global effort, urging wealthier nations to assist developing countries in their green transformation, especially where energy transitions have not yet been fully realized. She emphasized that phasing out coal and fossil fuel-powered plants is essential, particularly in countries with developing economies.

As part of the ongoing negotiations, the Foreign Minister called for a new approach to climate financing, highlighting the need for a significant expansion of the donor base. “We cannot write unfunded checks. We must have a clear commitment from all large emitters, especially the new ones who can afford it,” she said.

She also pointed to the upcoming climate summit in Belem, Brazil, where nations will once again update their Nationally Determined Contributions (NDCs) to meet the Paris Agreement's goals. “Europe remains a reliable partner in this endeavor,” she said, “but the global response must evolve to meet the challenges of 2024 and beyond.”

The Foreign Minister's comments reflect Germany’s ongoing commitment to both mitigation and adaptation strategies, setting a tone of urgency and collaboration for the remainder of the conference and the critical years ahead.