Germany set a new record in global climate finance in 2024, contributing €11.8 billion to support climate change mitigation and adaptation, including assistance to vulnerable countries like Bangladesh, according to the latest figures reported to the European Commission.
Of the total amount, €6.1 billion came directly from the federal budget, with nearly €1.5 billion allocated for conserving natural ecosystems such as forests, peatlands, and oceans.
Alongside renewable energy and other climate technologies, these conservation efforts form a vital part of global climate action.
For the first time, Germany also mobilized more than €1 billion in private sector funding for climate investment, a milestone in broadening financial participation in environmental initiatives.
Bangladesh, identified as one of the countries most vulnerable to climate change, has already begun benefiting from this support and remains eligible for further assistance in the future.
Germany’s Minister for the Environment and Climate Action Carsten Schneider reaffirmed his country’s commitment to international cooperation.
“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,” Schneider said.
“Climate action can only succeed if countries can be trusted to keep their promises. We are seeing encouraging figures in the mobilisation of private investment. Electricity from wind and solar power is becoming cheaper and therefore needs less support from the public purse. This means that in future we can direct more of our limited public funds towards climate change adaptation. We will be discussing that issue in Belém as well,” he added.