German Chancellor Olaf Scholz said efforts to fight climate change should rely more heavily on private investment in addition to public funding during a speech to the Petersberg Climate Dialogue on Friday. “A discussion that only focuses on public funding commitments falls far short of the mark. We need a new approach to financing climate protection worldwide,” Scholz said in Berlin. He pointed out that, according to expert estimates, $2.4 trillion would be needed annually by 2030 for the transition to climate-friendly energy in developing and emerging countries alone. “That is a huge sum,” sa…