00:00So, I want to be very clear for the European Union. We are staying the course. We have our climate targets, cast in law for 2030, now for 2040, and climate neutrality for 2050. We're staying the course. We're very clear that we want to reach these targets.
00:17We are well on track for the 2030 target. On the way forward, we have to be adaptable and flexible, because this is a huge transition that is happening. No one has done it before. So, we really have to be on uncharted waters, but we stay the course towards the common goals. That's important for me to emphasize that.
00:39Then, the expectations here for the G20, I also want to be clear, we're not fighting fossil fuels. We're fighting the emissions from fossil fuels. That is important.
00:53So, the big topic is, of course, always in fighting climate change is energy. If you look at the cutoff emissions, I can only speak for the European Union.
01:04In the last 20 years, we have cut the emissions by 50%. This cut has mostly taken place via reducing emissions in energy. So, this is vital.
01:17And here, we're talking about clean energy. It's either renewables or nuclear energy. And you're right, climate change is mostly affecting, of course, emerging economies.
01:29But they are often also the ones who have now the resources, as I've just said, for fighting climate change and having alternatives, clean alternatives for energy.
01:41The figure I just was mentioning was the 2 trillion that I invested last year in energy, clean energy, renewables and low carbon energies.
01:51Only 2% went to Africa. And here, we have to change the balance. Much more investment has to go to Africa.
01:57On your final point, climate finance, the European Union is the largest founder of climate finance.
02:06Last year, we contributed 29 billion euros. That is the biggest sum.
02:11And we are completely committed also to the new goals we have set for adaptation and for climate finance.
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