At a time of domestic economic hardship, Germany provided a record €11.8 billion in international climate financing to other countries in 2024, according to figures released on Monday by the Federal Ministry for Economic Cooperation and Development (BMZ) and the Federal Ministry for the Environment (BMUKN).
The sum includes €6.1 billion directly from the federal budget, supplemented by loans and more than €1 billion mobilized from private investors.
Development Minister Reem Alabali Radovan, of the Social Democratic Party (SPD), said that Germany’s commitment comes even in a time of financial strain. “Germany stands by the side of the Global South, even in difficult times. Climate change affects everyone. It respects no borders. Therefore, we must invest together in climate protection worldwide, using both public and private funds,” she stated in the government’s press release.
Environment Minister Carsten Schneider (SPD) added that falling renewable energy costs allowed Berlin to redirect more public resources toward climate adaptation. “Electricity from wind and solar is becoming increasingly cheaper and requires correspondingly less public financing. This gives us the opportunity to focus scarce public resources even more strongly on climate adaptation in the future,” he said, stressing that trust in countries keeping their promises is essential for the upcoming World Climate Conference in Brazil.
The figures show Germany exceeded its pledge to contribute at least €6 billion annually in budgetary resources for international climate aid, part of the global commitment under the 2015 Paris Agreement for industrialized nations to provide $100 billion annually to support developing and emerging economies until 2025. With €11.8 billion contributed, Germany accounted for about 11.8 percent of the global total in 2024.
According to BMZ, Germany’s climate finance supported renewable energy expansion, sustainable agriculture, and climate partnerships with countries such as Mozambique and Bangladesh.
However, it also financed projects in India, South Africa, Indonesia, and Mexico, including renewable energy, water management, and the funding of local public transport.
Alabali Radovan framed the record commitment as a signal ahead of the climate summit in Belem. “Because climate protection means future security, economic stability, and peace. The more we do together today, the better we can protect future generations,” she said.
Dr Rainer Kraft, an MP for the Alternative for Germany (AfD), remarked on the contribution, “The AfD could think of many things they could do with over €11 billion in Germany. Simply not collecting the money and leaving it to the citizens would also be an option.”
German economic woes were reported last month amid the first 100 days of the Friedrich Merz chancellorship, with Welt reporting on Federal Statistical Office data showing a wave of bankruptcies, rising unemployment, and public fears of renewed inflation across the country.
The number of unemployed stands at 3 million people, with welfare beneficiaries reaching an all-time high.
