Environment Minister Thoriq Ibrahim has said that Maldives will seek more renewable energy projects during the 28th Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28).
Speaking to reporters at the Velana International Airport on Wednesday before leaving for the UAE to attend the summit, Thoriq said the summit was very important for an oil-dependent island country like Maldives.
Maldives needs funds and renewable energy projects to mitigate the impacts of climate change and reduce its dependence on oil for power generation, he said, adding that the country would seek such projects during the COP summit.
"Our economic situation, the people need money to reduce electricity costs and we need projects. So for this too, we will try to get more projects from the COP. We will get them, hopefully," Thoriq said.
The minister said the Maldives would advocate at this year's summit for developed rich countries to contribute money to the Loss and Damage Fund and make it easy to withdraw the money when needed.
The Loss and Damage Fund was established at last year's COP27 summit to provide assistance to countries to recover from climate change, including global warming, sea level rise, erosion and flooding.
"We will advocate for financial organizations across the world to change the architecture of how they will disburse funds. It has become very difficult. We will also advocate for nature-based solutions," he said.
President Dr. Mohamed Muizzu will highlight all these issues in his speech at the summit, Thoriq added.
This year's COP summit will run from November 30 until December 12. Over 70,000 delegates are expected to attend.
