Climate financing has been and remains a priority for Germany, Jennifer Morgan, state secretary and special envoy for international climate action at the German Federal Foreign Office, said at the Climate and Development Ministerial (C&DM) during the second day of Pre-COP29 in Baku, Report informs.
She noted that Germany is the largest sponsor of the Adaptation Fund.
"We hope that at the upcoming COP, we will be able to increase the amount of contributions to this fund. Most of the financing provided by our Federal Ministry for Economic Cooperation and Development is based on the 'demand - credit/supply' principle. Therefore, the greater the demand for adaptation, the more financing will expand," she said.