President Muizzu: Each fragment of our environment carry value, their loss is a loss for our country

President Dr. Mohamed Muizzu, underscoring every fragment of the environment in island nations carries value, has described their loss as a loss to the nation and its economy.

He made the remark while delivering the Maldives’ National Statement at the High-Level Segment of the Twenty-Eighth Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) held in Dubai, United Arab Emirates (UAE).

“In our island nations, every coral, every grain of sand, every fish, and every palm tree, carry value. Their loss is a loss to our economy. For our country,” he had said.

Stressing on this, he underscored the need for habitable ecosystems to support our lives and livelihoods. 

President Muizzu said he took office as the president of Maldives 15 days ago after promising the citizens to protect national interests and ensure a prosperous future for every Maldivian. He added that it was a promise he intended to keep, despite knowing there are things beyond his control in the island nation.

One such thing he highlighted in this regard is climate change.

Therewith, on behalf of Maldivian people, he outlines the Maldives’ expectations for COP28:

Global Stocktake to commit to a plan that corrects the course towards a 1.5-degree pathway, in line with the Paris Agreement

“It must be based on equity and the best available science. And it must inform the next set of more ambitious NDCs,” he added.

Closing the climate financial gap

“We’ve been repeating this message every year. Yet we are still far from reaching this goal. We need new, adequate, and predictable finance for ambitious climate action, with priority for adaptation. The global financial architecture also needs a major overhaul. In a world where the climate is changing faster than ever, we cannot wait to overcome red tape. To prove bankability. To demonstrate viability. Accessibility must be improved. And assessment criteria must be revised,” he detailed.

Explaining these expectations, Present Muizzu welcomed Thursday’s decision to operationalize the Loss and Damage Fund.

Loss and Damage Fund is aimed at providing financial assistance to nations most vulnerable and impacted by the effects of climate change.

“We hope the Fund will be fit for purpose. And easily accessible to those who need it the most,” he also noted.