President Dr. Mohamed Muizzu has stated the government's commitment to developing renewable energy systems capable of providing 33 percent of the country's electrical needs within the next five years.
While noting the current figure stands at just 4 percent, Maldives aspires to generate a minimum of USD 600 million (MVR 9.2 billion) to achieve the future plan, for which President Muizzu called for the world's support.
He made the remarks at the 28th Session of the United Nations Framework Convention on Climate Change (COP28), held in Dubai, United Arab Emirates (UAE), while delivering the Maldives' National Statement.
In his speech, President Muizzu, while addressing world leaders, outlined the Maldives' expectations for COP28. He further emphasized the importance of the Global Stock take, committing to a strategy that corrects the course towards a 1.5-degree trajectory in accordance with the Paris Agreement.
The President further highlighted the need to bridge the climate funding gap and emphasized that it should be founded on equity and the best available science. He further asserted the need for improved accessibility and revised assessment criteria.
At the High-Level Segment of the COP28, President Muizzu further welcomed the decision taken on November 30, to operationalize the Loss and Damage Fund.
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