At the Climate Adaption Summit (CAS) on January 25, 2021, German Chancellor Angela Merkel pledged €220 million (US$268 million) to support the lowest income countries’ efforts to adapt to the effects of the climate crisis. Germany will take joint responsibility for strengthening the resiliency of low-income countries, Merkel said in a video address.
Parts of the funding provided by Germany will support the expansion of climate risk financing and insurance to protect 500 million of the world's poorest people annually against climate risks, such as floods or crop failures, by 2025 as part of the InsuResilience Global Partnership. The other funding will be channeled to the Least Developed Countries Fund which supports the lowest income nations in efforts to adapt to the effects of the climate crisis. The funds are drawn from the German Development Ministry’s (BMZ’s) budget.
According to Development Minister Gerd Müller, the funding provided will allow Germany to expand its cooperation on adaption measures in regions most affected by climate change, especially on the African continent. Activities include measures in the agricultural sector, such as developing climate-resilient plants and increased cooperation in coastal protection.
CAS was seen by many as an opportunity to lay the groundwork for the upcoming major UN Climate Change Conference (COP26), which will take place in November of 2021 in Glasgow.