The Government of Maldives has signed a Memorandum of Understanding (MoU) with The Nature Conservancy (TNC) to work on sustainable financing solutions.

This MoU was signed by the Minister of Finance Moosa Zameer, on behalf of the government of Maldives and TNC’s Global Director, Melissa Garvey at the 2024 United Nations Climate Change Conference (COP29).

The Nature Conservancy (TNC) is a global environmental organisation working in 79 countries worldwide to conserve ecosystems and combat climate change.

As Maldives continues to face risks associated with climate change, the aim of this partnership is to address these risks through sustainable debt financing. TNC aims to assist Maldives in addressing the environmental challenges it faces, ensuring the conservation of natural resources.

During the ceremony, Minister Zameer emphasised the importance of securing sustainable financing to protect ecosystems while stimulating the local economy. He underscored the use of financial tools such as carbon financing, conservation trust funds and public private partnerships, highlighting its impact on conservation efforts as well as on macro-fiscal stability and debt sustainability.