President Dr. Mohamed Muizzu has 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 made these remarks while delivering the Maldives’ National Statement at the High-Level Segment of the 28th Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) held in Dubai, United Arab Emirates (UAE).

President Dr. Muizzu noted that the current figure stands at 4 %, adding that Maldives aspires to generate a minimum of USD 600 million to achieve the future goal, calling for the world’s support in this endeavour.

Addressing world leaders, President Dr. Muizzu 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, President Dr. Muizzu also highlighted the need for improved accessibility and revised assessment criteria.

President Dr. Muizzu further welcomed the decision taken yesterday to operationalize the Loss and Damage Fund.