President Dr Mohamed Muizzu has stated that it is time for a financial system that listens to everyone, and works for everyone.

Speaking at the two-day Summit of the Future at the UN headquarters in New York, the President said the UN's Sustainable Development Goals (SDGs) financing and investment gap is between USD 2.5 trillion and USD 4 trillion annually. The President said the system that was meant to balance scales, has now become tilted.

"We need adequate, predictable, and sustainable, development and climate financing. It’s time for a financial system that listens to everyone. And works for everyone." he said.

The President said future generations will judge our legacy not by the processes we initiate but by the concrete actions we take.

President Muizzu further stressed that Climate Change is one of the greatest challenges that the Maldives faces, adding that climate anxiety is not a hypothetical concern, and that it affects nearly 62 percent of youth globally.

Small Island Developing States (SIDS) countries have suffered USD 153 billion in losses due to climate disasters over the past 50 years, he said.

The President said it was important to prioritize the decisions already taken by the “Summit of the Future”, including measures of climate adaptation and mitigation and on the protection of our oceans and marine resources.

"The Maldives is committed to achieving a net-zero, climate resilient future. We are on track to meet 33 percent of electricity demand from renewable sources by 2028.," he said.

The President called on other countries to follow in the footsteps of the Maldives.