German Federal Bank blocks climate financing through currency reserves

A great deal of hope for international climate finance is placed in special drawing rights – but Germany and presumably other euro countries will not pass on their special drawing rights at the International Monetary Fund to poorer countries. The German Bundesbank (Federal Bank) and the German Federal Ministry of Finance fundamentally oppose such a transfer. And the European Central Bank (ECB) is also highly skeptical about the instrument. This is the result of a Climate.Table inquiry submitted to these institutions.