Minister of Finance and Public Enterprises Hassan Zareer has highlighted green finance as a critical component of the Maldives’ long-term economic security, stressing that climate-related risks directly affect the country’s development, key industries and the livelihoods of its people.
Speaking at this year’s Maldives Finance Forum, organised by the Maldives Pension Administration Office under the theme “Green Finance: Sustainable Investment and Financial Security in the Maldives”, Minister Zareer said expanding access to green financing is no longer only an environmental consideration, but an economic and financial necessity for the island nation.
The Minister noted that the Maldives’ tourism and fisheries industries, together with the security and sustainability of its islands and communities, depend heavily on healthy oceans and a protected natural environment. As tourism remains one of the country’s principal economic pillars, continued investment in climate-resilient infrastructure, renewable energy, water security and coastal protection is essential to safeguarding destinations, communities and economic activity across the archipelago.
Referring to the three priorities highlighted by President Dr Mohamed Muizzu at COP31 — climate finance, reform of the international financial architecture and practical implementation — Minister Zareer emphasised the importance of financial mechanisms that are accessible to Small Island Developing States and adequately reflect their unique vulnerabilities. He also underscored the need for greater availability of grant-based assistance alongside other forms of climate financing.
Minister Zareer said the scale of investment required for the Maldives’ development cannot be met through government budgets and international grants alone. He stressed the importance of attracting private-sector capital, international investment and technical assistance to complement public financing and accelerate sustainable development.
Green finance, he said, has an important role in directing capital towards projects that protect natural resources while creating lasting economic value. The Government remains committed to facilitating responsible investment that delivers mutual economic benefits while maintaining strong environmental safeguards.
The Minister also cautioned that delaying or obstructing strategically important investments without adequately considering their broader economic benefits could negatively affect national development. He reaffirmed the Government’s openness to investments that strengthen resilience, support economic growth and contribute to environmental protection.
Minister Zareer called on banks and financial institutions to develop innovative green financial products, while encouraging businesses to prepare commercially viable and sustainable investment proposals capable of attracting long-term financing.
He added that the success of green finance should ultimately be reflected in stronger and more resilient communities, improved national infrastructure, lower dependence on imported fuel and increased financial security for the Maldivian people, reinforcing the Government’s wider objective of building a sustainable and resilient economy for future generations.
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