Minister of Foreign Affairs Abdulla Shahid has highlighted the difficulties faced by countries in accessing financing for renewable energy. The foreign minister made the remarks while speaking at the Raisina Dialogue session entitled, “Financing the Sun: Solar Energy Accessible to All”.
Speaking at the session, Minister Shahid noted that the government is constantly working towards shifting to cleaner methods of energy production. He also noted the Maldives has announced an updated Nationally Determined Contribution in December 2020, to achieve net zero emissions by 2030. He highlighted that while this was an ambitious target, Maldives is working with the international community to achieve it.
Minister Shahid went on to note that many countries face difficulties in accessing financing for renewable energy transition. In this context, the minister noted that complex procedures, limited domestic resources, high debt burdens, as challenges faced by most countries – especially smaller countries.
Chief Executive Officer of Children’s Investment Fund Foundation Kate Hampton, and the Director General of International Solar Alliance Ajay Mathur joined the Minister on the panel. Programme Manager at Sustainable Energy for All, India, Kanika Chawla moderated the panel.
The Raisina Dialogue is an annual conference hosted by the Observer Research Foundation, in collaboration with the Ministry of External Affairs of India. Minister Shahid is participating in the Raisina Dialogue on the invitation of the President of the Observer Research Foundation Samir Saran.
The 2021 edition of the Raisina Dialogue is being held virtually from April 13-15 due to extenuating circumstances related to the COVID-19 pandemic.