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.