Germany pledges record €11.8b climate aid, supporting Bangladesh

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

According to a press release issued by the German Embassy in Dhaka today (8 October), the latest figures reported to the European Commission for 2024 confirm that Germany has once again met its international pledges to fund climate mitigation and adaptation initiatives. 

Of the total contribution, €6.1 billion ($7.08 billion) came from the federal budget, with nearly €1.5 billion ($1.74 billion) earmarked for conserving natural ecosystems such as forests, peatlands, and oceans. These conservation efforts, alongside renewable energy and emerging climate technologies, form a key pillar of global climate action.

In a significant milestone, Germany also mobilised over  €1 billion ($1.16 billion) in private funding for climate investments for the first time. Bangladesh, one of the countries most vulnerable to climate change, is already benefiting from this support and remains eligible for further assistance in the coming years, the embassy noted.

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." He added, "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 requires less public support, allowing us to direct more funds toward climate change adaptation."

Germany's record contribution, coupled with its push to mobilise private investment, is expected to strengthen global resilience efforts, offering renewed opportunities for developing nations like Bangladesh to expand their environmental and climate adaptation initiatives.