Germany has made its highest-ever annual contribution of €11.8 billion (approximately USD 13.86 billion) to global climate financing, reaffirming its commitment to helping vulnerable countries, such as 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 today.
Out of the total contribution, €6.1 billion came from the federal budget, with nearly €1.5 billion earmarked for conserving natural ecosystems, including 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 years to come, the embassy said.
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.
Cox’s Bazar Life Desk/BSS
