Germany has pledged a record €11.8 billion ($13.86 billion) in global climate financing for 2024, reaffirming its dedication to supporting vulnerable countries like Bangladesh in addressing the challenges of climate change.
According to a press release from the German Embassy in Dhaka, the latest data submitted to the European Commission highlights Germany’s consistent fulfillment of its international obligations for climate mitigation and adaptation.
Of the total contribution, €6.1 billion comes from the federal budget, with nearly €1.5 billion designated for the preservation of vital ecosystems, including forests, peatlands, and oceans.
In addition to investments in renewable energy and emerging climate technologies, Germany’s conservation efforts play a significant role in global climate action. For the first time, Germany has also mobilised over €1 billion in private sector funding for climate investments.
Bangladesh, one of the world’s most climate-vulnerable nations, is already benefiting from this funding and is expected to receive further support in the years ahead, the embassy noted.
Germany’s Minister for the Environment and Climate Action, Carsten Schneider, emphasized, “Germany continues its commitment to international cooperation, which is critical for successful negotiations at the United Nations Climate Change Conference in Belém.”
He further stated, “Climate action can only succeed if countries honor their promises. As the cost of electricity from wind and solar power decreases, we can redirect more resources towards climate change adaptation.”
Germany’s landmark contribution and its efforts to attract private investment are expected to bolster global resilience, providing renewed opportunities for countries like Bangladesh to strengthen their climate adaptation strategies.
