BAKU, Azerbaijan, January 29. It's been clear that developed countries have committed to take the lead and to achieve the 100 billion goal, which was set to be achieved in 2020, Jennifer Morgan, Secretary of State and Special Representative of Germany for International Climate Action at the German Foreign Ministry said answering Trend’s question during a press conference in Baku.
“At this last COP, Germany and Canada actually worked together with other contributing countries and the OECD. There has been significant funding flowing from developed countries to developing countries. In Germany, certainly, we met our goal of 6 billion euros three years early. And so, and we also worked so that the Green Climate Fund was recapitalized at a higher level than last time, that the Loss and Damage Fund had those startup funds of 700 million euros. I think we've taken it very seriously,” she said.
Morgan believes that now it's time, as agreed in the Paris Agreement, for other countries that are able to do so to step onto the world stage and take up that responsibility.
“If you want to be a global player, there comes responsibility. I think UAE really fulfilled that last year. And that is the key question this year for this COP. So of course, we plan on continuing. Developed countries need to continue, of course. But it's time to have a broader contributor base. And we have to shift the trillions away from fossil fuels and all international financial institutions need to be engaged in that,” she added.
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