Germany Pledges Record €11.8bn Climate Aid for Bangladesh

Germany Pledges Record €11.8bn Climate Aid for Bangladesh

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

According to figures reported to the European Commission for 2024, Germany has once again fulfilled its international pledges for climate mitigation and adaptation efforts.

Of the total contribution, €6.1 billion comes from the federal budget, with nearly €1.5 billion earmarked for conserving natural ecosystems such as forests, peatlands, and oceans. These initiatives, alongside investments in renewable energy and emerging climate technologies, play a key role in global climate action.

In a milestone development, Germany mobilised over €1 billion in private funding for climate projects for the first time. Bangladesh, one of the countries most vulnerable to climate change, is already benefiting from this support and remains eligible for additional funding in the coming years.

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. This is essential for successful negotiations at the UN Climate Change Conference in Belém.”

He added that with the falling costs of wind and solar energy, public funds can now be redirected to climate adaptation projects, enhancing resilience in developing nations like Bangladesh.

Germany’s record contribution, combined with its mobilisation of private investment, is expected to strengthen global climate resilience and create renewed opportunities for vulnerable countries to advance environmental and adaptation initiatives.