Germany Tallies Coal Power Plants Winded Up In 2024

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 20. Germany closed 16 coal power plants in 2024, the country's Secretary of State, Special Envoy for International Climate Change Affairs Jennifer Morgan said in the national statement at the COP29 summit today, Trend reports.

"We are using all possible levers to ensure that funds flow into developing countries in the necessary volumes. Germany remains committed to its obligations," she explained.

In her assessment, Germany is poised to fulfill its obligations; however, it is imperative that other nations also engage in their respective responsibilities.

"The problems of today cannot be solved with methods from the 1990s, and private investments and the simplification of climate financing procedures are needed.

"We need an ambitious solution to mitigate the effects of climate change. We must accelerate a fair, equitable, and orderly transition away from fossil fuels. By 2030, we need to triple the use of renewable energy sources and double energy efficiency," emphasized Morgan.

She also highlighted that renewable energy is the name of the game, making up nearly 60 percent of electricity consumption in Germany. Meanwhile, the demand for gas is on the decline, and the country boasts one of the most stable energy grids under the sun.

"We are doing our part, and to those who are trying to turn back time, I say: be cautious. The solutions to the climate crisis are the greatest economic opportunity of our generation. Global investments in green energy are twice as high as investments in fossil fuels, and no investor will want to see their investments 'stuck,'" she added.

To note, the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will run until November 22, opened at the Baku Olympic Stadium on November 11. It is the largest event organized by Azerbaijan to date and the first time in the region that it is being held in Azerbaijan.

The main expectation from COP29 is to agree on a fair and ambitious New Collective Quantitative Goal (NCQG) on climate finance. The COP29 chairmanship has launched 14 initiatives that include linkages between climate action and the Sustainable Development Goals, including green energy corridors, green energy storage, harmony for climate resilience, clean hydrogen, methane reduction in organic waste, action on green digital technologies, and other topics.

In addition to being a top priority that creates the conditions for action, creating climate finance will also help fulfill the 1.5°C pledge by bringing everyone together.

The UN Framework Convention on Climate Change is an agreement signed at the Rio Earth Summit in June 1992 to prevent dangerous human interference in the climate system. The acronym COP (Conference of Parties) stands for“Conference of Parties” and is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.

A total of 198 countries are parties to the Convention. Unless otherwise decided by the parties, COP is held annually. The first COP event was held in March 1995 in Berlin, and its secretariat is located in Bonn.

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