KfW Development Bank at COP24
On 14 December the 24th Conference of the Parties (COP) ended in Katowice, Poland. After 2008 (Poznan) and 2013 (Warsaw), this was the third time the conference was being held in Poland. For almost two weeks, more than 25,000 delegates from 196 nations jointly negotiated global climate goals.
After the Paris Agreement was adopted in the course of COP 21 (2015), it was now to be determined how these goals are to be implemented. In the Paris Agreement, the contracting states had set themselves the target of limiting the global rise in temperature to well below two degrees Celsius, if possible 1.5 degrees Celsius, compared with the pre-industrial level.
Topics for improving climate protection include the use of climate-friendly modern technologies, such as electric mobility, and sustainable forestry.
Our mission: sustainable finance worldwide
Our portfolio of projects is diverse. It includes the world's largest solar power plant in Morocco, climate-friendly infrastructure in Bangladesh, flood protection in cities and on coasts, large-scale reforestation of forests and funds to mobilize private funds. The common goal of our projects is sustainability.
Climate and environment projects, which received EUR 4.5 billion in funding on behalf of the German Federal Government in 2017 – corresponding to about 55% of all new commitments of KfW Development Bank – will presumably generate annual savings of around 13.7 million tonnes of carbon dioxide equivalents in the partner countries in the years to come.
We are thus making a significant contribution to Germany's share of international climate finance. The intelligent combination of funds from the federal budget and KfW Bankengruppe's own funds enables us to achieve particularly high leverage and effectiveness.