Maldives

Country Code
MV
Region
SAR
Country Flag
Knowledge Receiver
1
country iso3
MDV

From transport to health, food to construction and textiles, plastics are among the most abundant materials in our economy. Globally, the plastic industry is valued at USD 600 billion and provides employment to millions of people worldwide. But plastic pollution has become a crisis of monumental proportions, with 8 million tons ending up in oceans annually. Around the world, different regions face unique challenges ranging from community awareness to waste and recycling capacity, to weak stakeholder engagement.

Climate Action Peer Exchange (CAPE) is a forum for peer learning, knowledge sharing, and mutual advisory support. It brings together ministers and senior technical specialists from finance ministries across the world, as well as World Bank staff and other international experts, to discuss the fiscal challenges involved in implementing the Nationally Determined Contributions (NDCs) established under the 2015 Paris Agreement.

As part of its effort to reach carbon neutrality and mitigate against climate change threats, the Government of the Maldives began to modernize its fragmented, inefficient, and carbon-based electricity generation capabilities. While the Maldives realized that better regulation and Renewable Energy and Energy Efficient technologies were needed in the island economy, it lacked the knowledge to establish an efficient regulatory framework and to promote investment in these technologies.