A ‘race to the top’ or global crawl? Despite global climate negotiations at COP27 and the G20 inching far too slowly towards the financial transformations we need to tackle climate change, country-level progress is being made. A common framework would help track that progress.
Since 2015, Germanwatch and NewClimate have collaborated in developing criteria to assess the compatibility of investments with global climate goals. This blog summarises some of our ideas and explains to what extent support for fossil fuels abroad jeopardises Germany's climate commitments and the Paris Agreement.
In its coalition agreement, the German government has set itself the goal of expanding offshore wind energy to 70 GW by 2045. This target is polarising. On the one hand, offshore wind energy has a high number of full load hours and can thus make a reliable contribution to decarbonisation. On the other hand, the expansion of 70 GW of offshore wind energy is very likely to increase the need for grid expansion, raise issues of marine protection and bring challenges such as the timely availability of resources.