Germany will double its funding for the global protection of forests from €1 billion ($1 billion) to €2 billion, Chancellor Olaf Scholz announced at the World Climate Conference COP27 in Egypt on Monday. Germany will also provide €170 million for a global protective umbrella to cushion the damage caused by climate disasters such as droughts, hurricanes or floods, the chancellor said, according to a speech manuscript published in advance. Both will be financed using Germany’s annual climate fund, which is to be increased from €5.3 billion to €6 billion by 2025. In his speech, Scholz also warned…