During the World Climate Conference (COP 27) held in the Egyptian resort of Sharm El Sheikh overlooking the Red Sea, German advisor Olaf Schultz promoted his idea for the creation of a worldwide climate club.
Today, Tuesday, during a discussion session with other heads of state and government, Schultz stated that all nations are invited to join this club. He added that many industrial sectors, such as the cement and steel production sectors, urgently need to be converted to be climate-friendly. Schultz explained that the club’s concept revolves around the agreement together on rules and standards, so that sizable investments do not result in competition distortions.
Due to the ongoing rise in greenhouse gas emissions, Schultz emphasised that time is running out and that the next “industrial revolution” had already begun.
Schultz announced his intention to lay the foundations for the climate club this year, stressing that cooperation will lead to the increase in the prosperity of the participating countries and the creation of sustainable job opportunities.
It is interesting that the Schultz proposal received support from the group of the seven largest industrialised nations at the end of last June.
The goal of the climate club is to reduce global warming emissions, including their measurement and registration, in addition to facing the transfer of production to other countries with more relaxed criteria in climate protection, with a particular emphasis on the goal of an environmentally friendly transformation of the industry. This information comes from a conceptual paper released at the Group of Seven Summit in the German state of Bavaria at the time.
The Group of Seven nations want to assist developing nations in transforming their economies to be more climate-friendly through energy partnerships.
Cope 27 .. Promotes the creation of a worldwide climate club: German advisor
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