Germany made its highest-ever annual contribution to global climate efforts in 2024, providing €11.8 billion (USD 13.86 billion) to support climate change mitigation and adaptation—particularly for vulnerable countries such as Bangladesh.
According to figures submitted to the European Commission, the record amount includes €6.1 billion from the federal budget, with €1.5 billion dedicated to conserving natural ecosystems like forests, peatlands, and oceans. These areas play a critical role in climate regulation and are increasingly recognised alongside renewable energy as essential components of global environmental strategy.
A notable milestone in Germany’s 2024 funding was the mobilisation of over €1 billion in private sector investment for climate initiatives—marking the first time private contributions surpassed this level. Officials say this reflects growing confidence and participation from the business community in sustainable development.
Bangladesh, one of the most climate-vulnerable nations, is already receiving support under Germany’s expanded climate finance, with further assistance expected.
Carsten Schneider, Germany’s Minister for the Environment and Climate Action, underscored the country’s dedication to global cooperation ahead of the upcoming United Nations Climate Change Conference in Belém.
“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,” he said.
Schneider also highlighted a positive shift in climate finance dynamics. “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,” he added.
The developments come at a crucial time as global climate negotiations focus on bridging the funding gap between mitigation efforts—such as clean energy—and adaptation, especially for countries already facing severe climate impacts.
