Germany pledges record €11.8bn climate aid

Germany has made its highest-ever annual contribution of €11.8 billion (USD 13.86 billion) to global climate financing, reaffirming its commitment to helping vulnerable countries like Bangladesh tackle the impacts of climate change. 

The latest figures reported to the European Commission for 2024 show that Germany has once again fulfilled its international commitments to fund climate mitigation and adaptation efforts, according to a press release issued by the German Embassy in Dhaka on Wednesday. 

Out of the total contribution, €6.1 billion came from the federal budget, with nearly €1.5 billion earmarked for conserving natural ecosystems such as forests, peatlands and oceans. 

Alongside renewable energy and emerging climate technologies, these conservation initiatives play a key role in global climate action.
In a significant milestone, Germany also mobilised more than €1 billion in private funding for climate investments for the first time. 

Bangladesh, as one of the most vulnerable countries to climate change, is already benefiting from this funding and remains eligible for further support in the coming years, the embassy said.

Germany's Minister for the Environment and Climate Action Carsten Schneider said, "Germany maintains its spirit of solidarity and stands by its commitments to international cooperation. That is an essential basis for successful negotiations at the United Nations Climate Change Conference in Belém."

"Climate action can only succeed if countries can be trusted to keep their promises. Electricity from wind and solar power is becoming cheaper and therefore needs less public support, which means we can direct more funds towards climate change adaptation," he added.

Germany's record contribution and commitment to mobilising private investment are expected to enhance global resilience efforts, offering renewed opportunities for developing nations like Bangladesh to strengthen their environmental and climate adaptation initiatives.