Germany has announced its largest-ever financial commitment to combat climate change, contributing a record €11.8 billion (USD 13.86 billion) in 2024 to support global climate mitigation and adaptation efforts, including significant assistance for vulnerable countries like Bangladesh.
This historic contribution includes €6.1 billion from the federal budget, with nearly €1.5 billion allocated specifically for the conservation of natural ecosystems, such as forests, peatlands, and oceans. These efforts are integral to global climate action, alongside investments in renewable energy and climate technologies.
For the first time, Germany also mobilized over €1 billion in private sector funding for climate-related projects, marking a significant milestone in expanding financial participation in global environmental initiatives.
Bangladesh, one of the countries most at risk from climate change, is already benefiting from this funding and remains eligible for ongoing support.
Carsten Schneider, Germany’s Minister for the Environment and Climate Action, reaffirmed the country’s commitment to international collaboration. “Germany’s spirit of solidarity is unwavering, and we stand by our commitments to global cooperation,” Schneider said. “Such cooperation is key to the success of future climate negotiations, particularly at the upcoming UN Climate Change Conference in Belém.”
Schneider emphasized the growing role of private investment in climate action, noting that falling costs for wind and solar energy reduce the need for public funding. “This shift allows us to allocate more of our public funds towards adaptation efforts,” he added, highlighting that this would be a key issue in discussions at the Belém conference.
Source: UNB
Bd-pratidin English/ Jisan
