Partner countries will launch a matchmaking platform at COP28 this week to connect emerging and developing countries with funding and technical support from governments and the private sector to decarbonise industries
Germany and Chile plan to launch a club of governments to help developing nations invest in decarbonising industries like steel and cement-making at the COP28 climate summit which begins this week, according to a document seen by Reuters showed.
The move comes weeks after the European Union launched the trial phase of its world-first carbon border tax that from 2026 will slap emission costs on CO2-intensive steel and cement imports to Europe, a policy that has caused disquiet among trading partners.
Germany and Chile’s “climate club” could attempt to soothe those concerns, according to the Reuters news story. The partners will launch a matchmaking platform to connect emerging and developing countries with funding and technical support from governments and the private sector to decarbonise industries, according to a draft statement seen by Reuters.
The statement is due to be published on December 1 during a launch event at the U.N.’s COP28 climate summit in Dubai, UAE.
