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President Muizzu urges global shift: Funds must support climate action, not war

President Dr. Mohamed Muizzu has called for the relocation of global funds towards climate adaptation at the world leaders climate action summit.

Speaking at the Plenary of the COP29, President Dr. Mohamed Muizzu made a plea for a global reorientation of financial priorities, urging leaders to divert resources from warfare to climate action. Addressing attendees in Azerbaijan, he emphasised the urgent need for a financial system that supports the survival and resilience of vulnerable nations like the Maldives.

"We see funds flowing freely to wage war, but scrutinised when it’s for climate adaptation," President Muizzu remarked. He called for a "reprioritisation" of global financial commitments, pointing out the glaring inconsistency in how funds are distributed in response to global threats. For the Maldives and many other Small Island Developing States (SIDS), the climate crisis is an existential threat that demands immediate, large-scale action.

Reflecting on the resilience of Maldives, president said the Maldives is often portrayed as vulnerable, but that its story is one of extraordinary fortitude and a firm belief in the power of collective action. He highlighted that the Maldives' identity is deeply intertwined with its environment and the ocean, which his administration sees as sacred to protect. Since hosting the first Small States Conference 35 years ago, the Maldives has consistently championed stronger climate action, and this message has remained steadfast, added the President.

The President outlined his vision for a sustainable future, detailing recent steps the Maldives has taken to enhance climate resilience. He also elaborating on new green initiatives, food security measures, and economic diversification efforts. He noted this blueprint, part of the Maldives’ broader 20-year vision, aims to create a climate-resilient, developed nation by 2040.

However, he noted that the ambitions of nations like the Maldives are constrained by limited finances. He urged leaders to ensure that the new climate finance goal matches the unprecedented scale of the climate crisis. "The need is in trillions, not billions," he stressed, advocating for a financing strategy that fully addresses adaptation, mitigation, and loss and damage.