News from 2015-12-04 / KfW Development Bank

UN Climate Change Conference

Successful start for KfW

The 21st Climate Change Conference, attended by about 150 heads of state and government leaders, started in Paris on Monday 30 November. In her speech, German Chancellor Angela Merkel stressed the great importance of an ambitious, comprehensive, fair and binding climate convention for the future of the planet. Chancellor Merkel announced that Germany is to double its public spending on climate-related issues by 2020 (based on its volume of spending in 2014). KfW will play an important part in the implementation of this funding.

The negotiations themselves are the subject of high expectations, although there are still gulfs between the positions of many countries. Little progress was made in this respect during the first week of negotiations. Nevertheless, experts expect the national climate protection programmes already submitted prior to the conference (INDCs) and the international donor community's willingness to make a substantial contribution to financing the necessary measures to provide a good foundation for ultimately being able to produce a new climate protection treaty.

KfW is there right from the start. Stephan Opitz, Member of the Management Committee of KfW Development Bank, signed a mandate agreement with Norway and financing agreements with Colombia aimed at reducing emissions by conserving forests as part of the innovative REDD for Early Movers programme. This represents the first time that Germany, Norway and the UK have worked together to promote forest conservation in Colombia with funding totaling USD 100 million. The German Federal Ministry for Economic Cooperation and Development (BMZ) is contributing around USD 12 million in support of the project.

Area of COP 21.
The 21st Climate Change Conference started in Paris on Monday 30 November.
Panel diskussion during the KfW/BMZ-Side-Event.
Panel diskussion during the KfW/BMZ-Side-Event. (from left to right: Stephan Opitz, KfW, David Bresch, Swiss-Re, Ingrid Hoven, BMZ, Stephany Uy-Tan, Bürgermeisterin Catbalogan City, Philippines, Philippe Orliange, AFD)

At the very well-attended KfW/BMZ side event "Financing Cities in a Changing Climate", BMZ Director-General Ingrid Hoven, AFD Divisional Head Philippe Orliange, David Bresch from Swiss Reinsurance and Mayor Stephany Uy-Tan from the Philippines discussed priorities for action and financing mechanisms for cities during times of climate change with KfW Director Opitz. The discussion was inspired by the quote from the UN Secretary General "the battle for sustainability will be won or lost in cities", because cities can make an important contribution to limiting global warming to 2°C. The Climate Focus Paper "Cities and Climate Change" drafted by the Climate Service Center Germany and KfW was also released.

A lot of interest is now focused on whether the parties will be able to bring the wide range of positions in the text close enough together that the ministers' negotiations in the second week can lead to a compromise for a binding treaty.

Find out more

Climate Focus Paper "Cities and Climate Change"