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A new alliance of companies, banks, insurers, and environmental organisations wants to invest in projects in emerging and developing countries in order to compensate for CO2 emissions which they cannot fully reduce at home. The alliance was initiated by the German Federal Ministry for Economic Cooperation and Development (BMZ). Possible projects include technology transfer for renewables and energy efficiency, protection of forests, or climate-friendly agriculture. 鈥淕lobal climate protection will be decided in the emerging countries,鈥� said Germany鈥檚 development cooperation minister Gerd M眉ller at a press conference in Berlin. 鈥�Every industrial nation must do its homework and Germany must of course lead in this respect. Then we must focus on the emerging and developing countries,鈥� he said. Beyond the rules and support that the state provides, every citizen and the private economy must do their part as well, said M眉ller. 鈥淭hat鈥檚 why we start this alliance.鈥�