Germany reveals plan for Int´l climate club

The German government has decided on the key points for the founding of a so-called international climate club, according to documents seen by dpa.

The club, which is the initiative of Finance Minister Olaf Scholz, is aimed at accelerating the implementation of the Paris Climate Agreement, while also protecting the economies of countries where climate protection measures are legally implemented, reported dpa.

So far, there has been no safeguarding framework protecting climate policy pioneers in energy-intensive industries from economic pitfalls, according to the plan submitted collectively by the Finance, Environment and Foreign Ministries.

"An international climate alliance based on trust and cooperation - a cooperative and open climate club - can help to overcome this dilemma. If the climate club is sufficiently large and succeeds in agreeing on WTO-compliant collective rules, it can have global pull," said a statement issued by the ministries.

The Ministry of Finance confirmed on Tuesday that Scholz intends to present the plan to the Cabinet on Wednesday.

The proposal states that the climate club should be a partnership of "the most ambitious countries in the world in terms of climate policy." Major emitters of greenhouse gases, namely China and the US, are listed as "important target countries."

Membership of the club, which will be open to all countries, will involve a commitment to the 1.5-degree target of the Paris Climate Agreement and to carbon neutrality by 2050 at the latest. Ambitious interim targets will also need to be set to ensure that progress remains on track, according to the plan.