Germany pledges BD record €11.8bn in climate aid
Staff Reporter :
Germany has announced its highest-ever annual contribution of €11.8 billion (USD 13.86 billion) to global climate finance, reaffirming its commitment to supporting vulnerable nations like Bangladesh in addressing the impacts of climate change.
According to a press release from the German Embassy in Dhaka on Wednesday, the latest figures reported to the European Commission for 2024 confirm that Germany has once again met its international commitments to fund climate mitigation and adaptation initiatives.
Of the total contribution, €6.1 billion came directly from the federal budget, with nearly €1.5 billion allocated for the conservation of natural ecosystems – including forests, peatlands, and oceans. These conservation efforts, alongside investments in renewable energy and emerging climate technologies, are seen as key pillars of global climate action.
In a major milestone, Germany also mobilised more than €1 billion in private financing for climate-related investments – the first time it has achieved such a level of private sector engagement.
The embassy noted that Bangladesh, one of the countries most vulnerable to climate change, is already benefiting from these funds and remains eligible for continued support in the years ahead.
Germany’s Minister for the Environment and Climate Action, Carsten Schneider, said:
“Germany upholds its spirit of solidarity and remains true to its commitments to international cooperation – an essential foundation for successful negotiations at the upcoming United Nations Climate Change Conference in Belém.” He added, “Climate action can only succeed when nations keep their promises. As electricity from wind and solar power becomes more affordable and requires less public funding, we can now channel more resources toward climate adaptation.”
Germany’s record contribution and growing mobilisation of private investment are expected to strengthen global resilience initiatives, offering renewed opportunities for developing countries like Bangladesh to enhance their environmental protection and climate adaptation programmes.