Germany welcomes COP29 climate finance deal as win for multilateralism

Government and politicians

Robert Habeck, German economy and climate minister

“We have initiated a paradigm shift in climate financing for developing countries: The private sector is now being given a stronger role in global climate protection, and countries from the Gulf region and China, for example, are now also under pressure to contribute financially. In view of the tense global situation, this is a success for international cooperation; the negotiations at UN level are working, even if there are still many unresolved issues that need to be discussed in the coming year.”

Svenja Schulze, German development minister

“The results from Baku are no reason to celebrate, the progress made is too small for that. But they are a reason to continue working hard on concrete climate solutions. In future, more people will take responsibility than before. This is because a commitment by a small group of traditional industrialised countries is now becoming a joint global task to which other countries are also contributing. This is an important signal: not only do we recognise our responsibility, but other now rich countries such as China or the Gulf States are now also called upon to participate.”

Steffi Lemke, German environment minister

“Unfortunately, the COP29 climate conference was disappointing in many respects. What we witnessed here was the defensive struggle of a fossil-fuelled world that does not want to accept that the age of fossil fuels is coming to an end. Because the rapid expansion of renewables can no longer be stopped. Neither is the realisation that the global environmental crises of our time, from species extinction to plastic pollution, can only be solved together and that an intact natural environment is our strongest bulwark and ally. The path to a clean future will only succeed if we put an end to the wasteful use of natural resources and swap yesterday’s business models for sustainable, circular approaches.”

Researchers and think tanks

Ottmar Edenhofer, director of the Mercator Research Institute on Global Commons and Climate Change (MCC)

“The climate summit in Baku was not a success, but at best the averting of a diplomatic disaster. It is now abundantly clear that we need additional negotiation formats for the global fight against the climate crisis. For progress to be made, not all of the almost 200 signatory states to the UN Framework Convention on Climate Change necessarily have to sit around the same table.”

Jule Könneke, SWP

“China’s role at COP29 was interesting. At the start of the negotiations, Vice Premier Ding Xuexiang announced that China had provided 24.5 billion US dollars in climate finance since 2016. […] The fact that China announced for the first time how much money it is putting into climate finance is an important signal. […] China’s announcement should also be seen against the backdrop of Donald Trump’s election in the USA.

This shifts the geopolitical balance in international climate policy. The bilateral cooperation between the US and China to date has not only frequently enabled compromises to be reached at climate conferences, but has also curbed the systemic competition between the two superpowers in the negotiations. China appears to be endeavouring to fill the resulting power vacuum and claim the narrative leadership role in international climate policy for itself.

This trend will continue and could become a real acid test for the EU’s claim to leadership in climate protection. The EU is at risk of becoming increasingly isolated due to China’s ambitions to claim the narrative of global climate leadership and the ever louder criticism of measures such as the carbon border adjustment mechanism. This not only restricts its room for manoeuvre in climate diplomacy, but could also weaken the EU as a whole in terms of foreign policy.”

Industry and business

Thilo Brodtmann, managing director of VDMA

“The conclusion of the chapter on a global carbon markets is a milestone. It has the potential to accelerate the global use of particularly efficient technologies to avoid emissions. The remaining open issues must be resolved by the next climate conference in Brazil.”

Civil society

Sabine Minninger, Brot für die Welt

“It was more important to the most vulnerable states that the multilateral process continue than to insist on their demands for fair support. They have supported an outcome that does not meet their needs at all.

Countries need prioritised access to climate finance and must be supported in dealing with the climate crisis through grants – not loans. It is disastrous that the poorest countries have dropped their demand for financing climate damage due to pressure from industrialised countries. As a result, they run the risk of continuing to run up massive debts to cover the high costs of damage.”

Martin Kaiser, Executive Director of Greenpeace Germany

“After Baku, there is a shamefully wide gap between the promised support for the most vulnerable countries and their urgent needs,” said Kaiser in a statement, continuing that “the disappointing outcome of this conference is a mission for Germany. The perpetrators of the climate crisis must no longer shirk their responsibility. This also applies to oil and gas companies as well as the super-rich – they must be made to contribute to financing the costs in the future. The next German government should lead the way together with its EU partners. Brazil’s G20 initiative for a billionaires’ tax points in the right direction.” Looking at next year’s COP in Brazil, “Germany and the EU must manage to establish enough climate cooperation with Brazil, China and India by then in order to counter the climate crisis denier Trump, who will already be in office.”

Cosima Cassel, Head of the Climate Diplomacy Programme at think tank E3G Berlin

“The pioneering role of developing countries such as Brazil, Colombia and Kenya was crucial in driving this agreement forward. But the outcome falls far short of what is needed to reduce emissions and protect communities at the pace needed. Brazil will assume the presidency of COP30 in 2025 and needs to develop a credible roadmap for more climate finance, accelerated decarbonisation and regional action now. With NDC updates due next year, Brazil’s leadership will be critical to keeping 1.5°C within reach.”

Luisa Neubauer, spokesperson for Fridays for Future Germany

“COP29 represents every reason for people to become activists. Fossil voices and fossil states are counting on the resignation of climate-conscious societies and governments – that shouldn’t happen. Germany and the EU must now take the lead in the global North and prove that they will not let a weak COP stop them from pushing ahead with international climate action. And especially as international climate negotiations become more complex, it is all the more important that countries like Germany stay on the ball, defend climate targets and set an example for transformation.”

Viviane Raddatz, Climate Director at WWF Germany

“The promised funds are nothing more than a sip of water before dying of thirst. The new financial target does not do justice to either the past or the future: the industrialised countries have been the main cause of the climate crisis and must pay for it. And all countries in the world will only be able to operate successfully in the future if they consistently focus on climate protection – and are financially able to do so. Not investing the necessary funds now will also significantly limit the economic performance of rich nations. Every euro not invested today will cost many times more tomorrow.”