Germany’s Scholz urges COP27 participants to keep eye on renewable energy targets

Germany’s Chancellor Olaf Scholz has on Monday urged COP27 participants not to lose sight of renewable energy targets despite the effects of the Russian war in Ukraine.
“There must not be a worldwide renaissance of fossil fuels,” Scholz said in his speech at the leaders’ summit, taking place in Sharm El-Sheikh, Egypt.
“And for Germany I can say: there will not be one,” he added.
Europe’s largest economy has been squeezed as Russian energy imports have tumbled and prices have soared after the outbreak of the Russian war in Ukraine.
Long reliant on imports from Moscow to meet its energy needs, Germany has rushed to shore up its supplies to avoid shortages during winter.
As a result, officials had decided to restart old coal power plants “for a short time”, Scholz noted.
Germany would “stick to our exit from coal”, he stated, with the country aiming for a complete end to the fossil fuel in 2030.
The country has invested billions in new infrastructure for the import of natural gas from new sources, such as the United States or Qatar.
Less global warming meant “fewer droughts and floods, fewer conflicts over resources, less hunger and fewer bad harvests, and more security and well-being for all”, he said.
That is why Germany would increase its investments in international environmental programmes, Scholz added, bringing the total to €6 billion ($6 billion).
Funds for the protection of forests alone through 2025 would be doubled to €2 billion, according to the German Development Ministry.
The money will mostly be invested in partnership programmes with countries such as Brazil, Ecuador, Madagascar, and Pakistan, the ministry stated.