Minister Ali Shareef outlines ways to strengthen delivery of adaptation finance for SIDS at the ongoing gathering of Supreme Audit Institutions

Minister Ali Shareef shared the Maldives’ experience in enhancing climate finance delivery for Small Island Developing States (SIDS) during his address at the event on Strengthening the Capacity of Supreme Audit Institutions in Small Island Developing States to Audit the Implementation of the SDGs, currently underway in Ukulhas, AA. Atoll. 

The event is convened by the Auditor General’s Office in partnership with the UN Department of Economic and Social Affairs. Minister Ali Shareef delivered the keynote address for the session on Climate Adaptation and Unlocking Finance in SIDS, where he outlined the Maldives’ ongoing efforts to build climate resilience, including through resilient urban development, economic strengthening, food and water security, and biodiversity and coral reef conservation. 

In his remarks, Minister emphasized that the use of GDP per capita as a criterion for accessing climate finance places SIDS at a distinct disadvantage. He called for reform of the international climate finance architecture to ensure that SIDS can access concessional funding for essential adaptation infrastructure without accruing further debt. The Minister also noted that the bureaucratic and complex access procedures of multilateral climate funds continue to impede timely delivery of much-needed support. He also underscored the potential for Supreme Audit Institutions (SAIs) to play a more prominent role in auditing progress toward the climate finance commitments of developed countries under the UNFCCC Paris Agreement. 

Ms. Aishath Aileen Niyaz, Director at the Ministry, also participated as a panelist in the session. She shared perspectives on how SIDS can collaborate to improve access to climate finance, and highlighted the contributions SAIs can make in ensuring the efficiency and effectiveness of climate-related funding.