(MENAFN) German Chancellor Friedrich Merz called on wealthy nations on Friday to bolster their contributions to the global effort against climate change, stressing the urgency of coordinated action. Speaking at an international climate summit in Brazil, Merz said, “We are at a crossroads. All countries with the economic resources and high emissions—and we are among them—should contribute to international climate finance.”

Highlighting Germany’s commitment, Merz noted that his government allocated over €6 billion ($7 billion) for climate initiatives last year. He also pledged support for Brazil’s Tropical Forest Forever Facility (TFFF), emphasizing the need for collaborative international efforts. “We will contribute significantly to this initiative's success. To achieve our climate goals, the tropical forest must be preserved while more private sector funding is mobilized. This can only succeed together with our partners in the Global South and North,” he said.

Merz reaffirmed Germany’s dedication to both national and European Union climate targets, aiming for climate neutrality by 2045 in alignment with the Paris Agreement. “We are relying on innovation and technology to address climate change successfully. Our economy is not the problem; our economy is the key to protecting our climate even better. We are developing new economic sectors and business models. And here, too, we are relying on the innovative strength of our economy,” he added.

The Belem Climate Summit, where Merz spoke, serves as a high-level platform for climate diplomacy and precedes the COP30 climate conference scheduled for November 10-21.

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