President Dr Mohamed Muizzu declared the government's commitment to developing renewable energy systems capable of providing 33% of the nation's electrical needs within the next five years. He also noted that the current figure stands at 4%, and that Maldives aspires to generate a minimum of 600 million dollars to achieve the future goal, calling for the world’s support in this endeavour.
The President made these remarks while delivering the Maldives’ National Statement at the High-Level Segment of the Twenty-Eighth Session of the Conference of the Parties of the United Nations Framework Convention on Climate Change (COP28) held in Dubai, United Arab Emirates (UAE).
Addressing world leaders, the President of the Maldives outlined the Maldives’ expectations for COP28, emphasizing the importance of the Global Stocktake committing to a strategy that corrects the course towards a 1.5-degree trajectory in accordance with the Paris Agreement. Along with recognizing the need to bridge the climate funding gap and emphasizing that it must be founded on equity and the best available science, the President also highlighted the need for improved accessibility and revised assessment criteria.
The President further welcomed the decision taken yesterday to operationalize the Loss and Damage Fund.