The Maldives has been actively striving to become a more sustainable and eco-friendly nation in recent years, driven by the urgent need to protect its small island territory from the detrimental effects of climate change. In order to secure a sustainable future and mitigate the impacts of rising temperatures and sea levels, the country has been implementing various measures at both individual and governmental levels.
While smaller-scale initiatives are taking place within society, the government and business owners are also spearheading significant changes to foster a greener future. Notably, two major developments in the Maldives are the adoption of solar energy and the progressive ban on single-use plastics, aimed at reducing the nation's carbon footprint.
Adding to these efforts, the Bank of Maldives (BML) recently unveiled its plans to implement sustainable practices within its operations, specifically targeting the energy consumption of its ATMs. During the annual general meeting held on May 29, 2023, at the Islamic Center assembly hall, BML's CEO and Managing Director, Karl Stumke, made this announcement. He emphasized the bank's commitment to prioritizing environmentally friendly practices and revealed their intention to transition their ATMs to operate on solar power. This decision aligns with the bank's overarching policies as they actively work towards maximizing sustainability in their operations.
In addition to making their ATMs run on solar-generated power, BML has also been putting in a lot of effort to change its banking services digitalised with additional features such as scan-pay, reducing the need to use physical money for transactions and payments as well.