President Dr. Mohamed Muizzu stated today that as global temperatures rise above 1.5 degrees Celsius compared to present levels and a climate change catastrophe approaches, the Maldives is determined to adapt and build a resilient future, and the country needs financial assistance in this field.
In his speech delivered at the "COP 31" summit currently underway in Antalya, Turkey, the President stated that he requests countries to unite and take urgent action in three areas. The first area, according to the President, is providing financial aid.
"Developed nations must fulfill their financial commitments. Financial assistance must be new, additional, and grant-based. The Green Climate Fund needs to be replenished, capital must be provided to the Adaptation Fund, and adequate resources must be allocated to the Loss and Damage Fund," President Muizzu stated.
He stated that countries like the Maldives, which contribute little to nothing to creating this state of climate change, should not be expected to fall into debt in adapting to this situation.
He also stated that the capacity to adapt to this change should not come at the cost of unbearable debt.
The second area requiring urgent international action, according to the President, is reforming the systems established to provide climate assistance. He stated that international financial institutions must reform how investments made in climate adaptation are assessed and rated.
"Efforts toward resilience must be viewed as an investment in all of our futures. Not as a financial burden," President Muizzu stated.
The third area requiring urgent action, the President stated, is the implementation of climate adaptation policies. He stated that the Maldives is turning its targets into practical action in establishing food security, energy, and water resources.
The President also stated that efforts to achieve the targets set by the Maldives in the renewable energy sector are on the right track. He noted that major strides have been made in seeking climate funding, adding that a Maldivian institution received Green Climate Fund accreditation last month.
"This is the first time a Small Island Developing State in Asia has achieved this. This demonstrates our administrative readiness to access and deliver climate finance," the President stated.
He stated that unfulfilled hopes are merely promises, and money and technology are required for implementation. Above all, he added that taking action to fulfill obligations mandated by treaties is the most critical step.
"We are calling for justice, accountability, and action," the President stated.
While President Muizzu has announced that 33 percent of the electricity used in the Maldives will be transitioned to renewable energy, the government stated last September that while 53 megawatts of electricity was previously produced from such energy in the Maldives, that figure has now been increased to 126 megawatts.
Speaking at a media briefing held at the President's Office, Environment Minister Ali Shareef stated that the installed capacity for renewable energy generation was raised to that level through projects implemented across various regions. That is more than double the amount of electricity generated from renewable energy up to 2023.
