US may miss out on green tech boom: Germany
Berlin – Europe must seize on the 'huge economic opportunities' offered by the green technology boom, Germany said Wednesday — adding it was up to the United States if it decided to miss out.
Since returning to the White House, President Donald Trump's administration has withdrawn the United States from the landmark Paris Agreement for a second time and vowed to focus heavily on fossil fuel extraction.
German Chancellor Olaf Scholz said at a climate conference in Berlin that he 'deeply regretted' the United States leaving the Paris climate accord and stressed the 'enormous' economic opportunities it is missing out on.
'The global market for climate-friendly key technologies continues to grow rapidly,' Scholz told the Petersberg Climate Dialogue.
He said investments in the global energy transition had exceeded the $2 trillion mark, which 'corresponds to the volume of the entire global oil trade today'.
The meeting's host, Foreign Minister Annalena Baerbock, said economic data contradicted the 'old prejudice' that investing in climate protection was 'unaffordable'.
'We all know that there are spoilers in the world right now who want to prevent' greater climate investments, she told the first major meeting of the year related to the COP30 summit taking place in Brazil in November.
Baerbock added that 'today climate protection and economic growth no longer contradict one another'.
'Climate protection opens up huge economic opportunities, and we as Europeans want to seize them', she added.
Europe especially wants to work with 'companies and countries in Latin America, Africa and other regions around the world,' Baerbock said.
'If others, such as the United States, decide to stay out of it, that is their decision.'
– 'Renewing economies' –
United Nations Secretary-General Antonio Guterres echoed Baerbock's message, telling the Berlin meeting in a virtual address that 'renewables are renewing economies'.
'They are powering growth, creating jobs, lowering energy bills and cleaning our air. And every day, they become an even smarter investment.'
Baerbock also hailed as 'historic' a recent agreement struck in Germany to channel an extra 100 billion euros ($107 billion) to climate measures.
Her Greens, who are set to leave government after faring poorly in February elections, wrung the concession from other political parties in exchange for agreeing to support plans for greater defence and infrastructure spending.
EU climate commissioner Wopke Hoekstra meanwhile warned that the world was living in 'tremendously difficult times'.
'We're facing problems literally from every direction — and clearly also in the domain of climate action,' he told the meeting.
Beyond the United States withdrawing from climate cooperation, there have also been concerns that the issue is being pushed down the global agenda by national security and economic pressures.
'But there's no alternative,' Hoekstra stressed. 'Humanity doesn't have an alternative and cannot wait.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Iraq Business
6 hours ago
- Iraq Business
EU Maintains Flight Ban on Iraqi Carriers
By John Lee. The European Union (EU) has confirmed it will maintain operational restrictions on Iraqi air carriers following a technical review that found insufficient progress in the country's aviation safety oversight capabilities. Iraqi Airways and Fly Baghdad remain on the EU's banned carrier list, with both airlines subject to operating restrictions imposed in December 2015 and November 2023 respectively under Commission regulations. The decision follows a technical meeting held on 23 April 2025 between the European Commission, the European Union Aviation Safety Agency, member states and the Iraqi Civil Aviation Authority (ICAA). During discussions, Iraqi officials presented updates on legislative and regulatory framework improvements alongside oversight performance enhancements. The ICAA outlined ongoing efforts including personnel recruitment, training initiatives and drafting of updated national aviation regulations. However, European officials noted these measures remain in early implementation stages with significant concerns persisting over timing, consistency and alignment with international safety standards. Critical reforms including adoption of revised primary aviation law and strengthening of safety oversight systems remain incomplete without verifiable outcomes, according to the assessment. The planned Union on-site assessment visit scheduled for September 2025 has been deemed premature given the need for further demonstrable progress across core aviation safety oversight areas. Under current arrangements, EU member states must continue prioritising ramp inspections of all Iraqi-certified carriers to verify compliance with international safety standards. The Commission stated it would take further action if safety information reveals imminent risks from non-compliance with international standards. The restrictions affect commercial operations within European airspace, maintaining safety protocols established under EU aviation safety regulations. Full statement from European Union. (Source: EU)
Iraqi News
6 hours ago
- Iraqi News
Iraq carries out promising projects to stop gas flaring
Baghdad ( – Iraq is carrying out ambitious projects to reduce gas flaring associated with oil operations, achieve self-sufficiency in gas, and meet the fuel demands of multiple industries and power plants. The Iraqi Ministry of Oil has significantly increased its utilization of associated gas from 53 percent to 70 percent. Iraq has successfully increased its dry gas production from 1.3 billion standard cubic feet per day to 1.8 billion standard cubic feet per day. This achievement is the result of several promising projects carried out by local companies in collaboration with specialized foreign firms. Eliminating gas flaring in Iraq is an essential aspect of Baghdad's goals to attain self-sufficiency and lower its import costs, as well as meet its climate pledges. To meet growing demand and limit imports, the Iraqi government plans to reduce the amount of gas it unproductively flares by approximately 20 percent in 2025. The government's strategy intends to cease gas flaring in oil fields over the coming few years and achieve a production rate of three billion standard cubic feet per day by 2030. Amid plans to stop gas flaring in oil fields by the end of 2028, the government's plans include converting flared gas into clean energy to support power plants and related industries, as well as protecting the environment and public health, in accordance with Iraq's international commitments, including the 2016 Paris Agreement to achieve zero greenhouse gas emissions by 2030.
Shafaq News
9 hours ago
- Shafaq News
Trump warns Iran: Enrichment demands risk dangerous consequences
Shafaq News/ On Monday, US President Donald Trump rejected Iran's latest reply to a nuclear proposal, warning that Tehran's demands could collapse the negotiations. 'We're trying to reach an agreement with Iran to avoid destruction and death,' Trump said, but stressed that 'their response is unacceptable.' A meeting with Iranian negotiators is scheduled for Thursday, he announced, adding that 'they're asking for things that simply can't be done.' He reiterated Washington's core objection, 'Iran is pursuing enrichment. That's what we don't want,' warning that failure to reach a deal would carry 'extremely dangerous' consequences. Iran's Atomic Energy Organization had said it would 'never accept zero-percent uranium enrichment,' calling the US demands excessive. Trump also confirmed a recent call with Israeli Prime Minister Benjamin Netanyahu, during which they discussed Iran and Lebanon amid other regional developments. Since the US withdrew from the JCPOA in 2018, efforts to revive or replace the agreement have repeatedly stalled. The latest indirect round, held in Rome and mediated by Oman, focused on limiting enrichment levels, which Iran has raised to 60%—far above the JCPOA's 3.67% cap. While Tehran insists its nuclear program serves peaceful purposes, Western officials argue the current enrichment levels lack a plausible civilian justification. Trump's remarks come following Iran's claims that it breached Israeli nuclear facilities and extracted thousands of classified documents, after which theSupreme National Security Council has warned that any Israeli attack on its nuclear facilities would trigger an immediate and proportionate retaliation.
