Germany Launches Development and Climate Alliance
Photo by Patrick Hendry
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The Alliance seeks to make it easier for companies and organizations to finance CO2 offset projects in developing countries, such as biogas plants, wind power, solar energy and reforestation.

The Alliance also aims to promote the voluntary CO2 market by improving the political framework for voluntary offsetting.

Current signatories to the Alliance for Development and Climate include such companies as Bosch, Deutsche Bank and Siemens.

28 November 2018: The German Federal Ministry for Economic Cooperation and Development (BMZ) has launched the Alliance for Development and Climate to promote voluntary commitments to climate protection by supporting businesses and organizations in their efforts to reduce greenhouse gas (GHG) emissions and compensate for remaining emissions through carbon offsetting.

The Alliance aims to: help raise capital for climate investments in developing countries; encourage other countries to increase their climate protection efforts and financial contributions to developing countries; and compensate for unavoidable emissions by supporting international climate protection projects.

Facilitating emission reduction and carbon offsetting processes helps to raise funds and enable financial transfers to developing countries.

The Alliance seeks to make it easier for companies and organizations to finance carbon dioxide (CO2) offset projects in developing countries, such as biogas plants, wind power, solar energy and reforestation. Such projects avoid emissions or remove them from the atmosphere, while promoting economic and social development locally. The Alliance also aims to promote the voluntary CO2 market by improving the political framework for voluntary offsetting and helping companies network with offsetting specialists and project developers.

A First Climate press release notes that “facilitating emission reduction and carbon offsetting processes helps to raise funds and enable financial transfers to emerging and developing countries where climate protection projects can be implemented easily and more effectively than in industrialized countries.” Such projects also support sustainable development, have a positive impact on people and the environment, and generate social, economic and environmental co-benefits.

Current signatories to the Alliance for Development and Climate include such companies as Bosch, Deutsche Bank and Siemens. The initiative also welcomes private individuals as participants. The Alliance was announced in advance of the Katowice Climate Change Conference, which is meeting in Poland through 14 December 2018. [Forest Finest Press Release] [First Climate Press Release]


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