February 25, 2024

Germany and Chile Plan Government Club » latinapress news

Germany and Chile want to set up a government club at next week’s COP28 climate summit to help developing countries invest in decarbonising industries such as steel and cement production. The move comes weeks after the EU introduced a pilot phase of its carbon border tax, which will tax carbon-intensive steel and cement imports into Europe from 2026, sparking unease among trading partners. The “climate club” of Germany and Chile could try to alleviate these concerns.

According to an initial report seen by Reuters, the partners will launch a platform to connect emerging and developing countries with financial and technical support from governments and the private sector. The report is scheduled to be released on December 1 during the COP28 launch event in Dubai. “We will promote favorable policy environments to accelerate decarbonisation in hard-to-mine sectors, starting with steel and cement,” the statement said. This includes trying to harmonize international standards for the green sector, for example to record emissions from industrial products, it continues.

The German Economy and Climate Ministry did not respond to a request for comment. A spokesman for Chile’s environment ministry said the club “underlines the importance of multilateralism and cooperation in finding solutions”. Berlin, which held an initial meeting of members in May to set the club’s goals, sought support from governments and financial institutions. The club’s website lists 33 members, including the United States, Argentina, Australia, Canada, Colombia, Egypt, the European Union, Indonesia, Japan, Kenya, Mozambique, Morocco, Ukraine and the United Kingdom. India and China have not joined yet. China, the world’s biggest steel exporter, has criticized the EU tariff as a barrier to trade. India plans to file a complaint with the World Trade Organization against the move. The European Commission says the measure was introduced in line with WTO rules.

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