President Dr Mohamed Muizzu has said it is unjust for small nations such as the Maldives to take on substantial debt to recover from climate-related disasters that they played little or no role in creating.
Speaking during the Maldives’ national statement at the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31), currently taking place in Antalya, Türkiye, the President outlined three key priorities that require urgent international action.
The first priority, he said, is ensuring adequate financing to address climate change and its impacts.
President Muizzu stressed that climate finance must be provided as new and additional funding, with predictable delivery timelines and amounts, and in the form of grants rather than loans. He argued that it is unacceptable for small countries to accumulate debt to recover from crises they had little part in creating.
The President also called on developed countries to make adequate financial contributions to the Green Climate Fund, the Adaptation Fund and funds dedicated to addressing loss and damage.
“We cannot accept that countries with little responsibility for creating a crisis should have to borrow their way out of it. Climate ambition must not come at the cost of debt sustainability,” President Muizzu said.
He further emphasised that the international financial architecture must be reformed to account for the particular vulnerabilities of Small Island Developing States (SIDS). He also called for financial institutions and credit rating agencies to revise the criteria they use to assess climate-related investments.
Turning to the Maldives’ domestic efforts, President Muizzu said the country was working to turn its climate ambitions into practical action, including through investments and projects aimed at strengthening food, water and energy security.
Highlighting the progress made, he said the Maldives was taking meaningful steps towards its renewable energy targets while also increasing access to financing needed to address the impacts of climate change.
“Hope without action is merely a promise. We must turn that hope into access to finance, political commitment and measurable progress. Small island states must have the right to determine their own development pathways,” the President said.
The Maldives also called for the establishment of climate justice and the fulfilment of all existing commitments through concrete implementation.
