Speaking at the Maldives Finance Forum 2026, Minister Zareer said climate change is a direct threat to the Maldives' economy and people's livelihoods.
Finance Ministry
The Maldives needs to invest in renewable energy, environmental protection and water security to become a developed country by 2040, Finance Minister Hassan Zareer has said.
Speaking at the Maldives Finance Forum 2026, Minister Zareer said climate change is a direct threat to the Maldives' economy and people's livelihoods. Noting the role of marine life in sustaining tourism and fisheries and protecting islands, he stressed the importance of increasing climate change awareness in planning and financing development projects in the Maldives.
Climate risk is an economic risk. And economic risks need to be managed.
The minister said the state budget, international aid and soft loans are still very important to build strong infrastructure and protect basic services. In addition, the Minister stressed the importance of capital investments by private individuals and long-term investments by financial institutions to meet such needs so that the debt burden for future generations is not increased.
Reaching the target of meeting 33 per cent of the Maldives' energy needs from renewable sources by 2028 will require substantial investments and linkages, he said, adding that the expansion of renewable energy sources will reduce the Maldives' dependence on imported oil.
The government is currently implementing the National Sustainable Finance Roadmap and the National Financial Inclusion Strategy. The accreditation of the Maldives Finance and Leasing Company (MFLC) as the first entity in the country to have direct access to the Green Climate Fund, was an added impetus to attracting international climate funds.
The Minister urged banks to introduce special financial products for sustainable projects and asked businesses to submit winning proposals. The success of green finance should be measured by the projects implemented and their results, which include stronger infrastructure, reduced dependence on oil for energy generation and financial security for indigenous people.
The Maldives Finance Forum brings together policy makers, regulators, financial institutions, development partners and civil society. This year marks the 13th time the forum is being held.
