Along with phasing out fossil fuels, Germany is increasing investment in solar power plants, aiming to achieve energy security and carbon neutrality as soon as possible.
Expectations for a green transformation of the global economy are in many ways inconsistent with the current level of financing for fossil fuel projects offered by the world's largest banks.
While world leaders are talking about a green transition, many countries continue to spend billions on fossil fuel subsidies, delaying the shift away from hydrocarbons.