News Desk
HONOLULU — In a compelling address at the Honolulu International Forum (HIF) Vice President Hussain Mohamed Latheef reaffirmed Maldives’ commitment to advancing the Blue Economy while calling for urgent reforms in international climate finance to support small island developing states facing existential threats from climate change.
Speaking at the Pacific Forum, a prestigious platform celebrating five decades of fostering strategic stability and policy dialogue in the Indo-Pacific, VP Latheef underscored the Maldives’ deep-rooted connection to the ocean. “As ‘children of the sea,’ our identity, culture, and way of life are closely bound to the changing tides,” he said, highlighting the nation’s reliance on fisheries and tourism, which are increasingly imperiled by climate-driven challenges like coral bleaching, storm surges, coastal erosion, and rising sea levels.
The Vice President detailed the Maldives’ efforts to champion sustainable practices, including its globally recognized pole-and-line fishing methods and the designation of 93 protected marine areas spanning over 7,733 hectares, alongside three UNESCO Biosphere Reserves. These initiatives, he said, reflect the country’s commitment to marine conservation and ecosystem-based coastal management. Yet, he emphasized that such efforts require robust and accessible climate financing to succeed.
VP Latheef called for a fundamental overhaul of the global climate finance system, urging the international community to move beyond GDP-based assessments that fail to account for the unique vulnerabilities of small island nations. “We need a development matrix that counts beyond the GDP,” he said, advocating for frameworks that prioritize equity and respond to the specific needs of countries like the Maldives.
He proposed innovative financing solutions, including grant-based funding, concessional instruments, and climate-linked debt restructuring to ease access to capital. He also called for mechanisms to unlock private sector potential through favorable borrowing terms and extended maturities, urging partnerships between private lenders and official creditors.
“The Maldives’ experience shows the deep interconnection between the Blue Economy and climate finance, with each reinforcing the other to safeguard our heritage, livelihoods, and the future,” VP Latheef said, concluding his remarks with a plea for collaborative global action.
The Honolulu International Forum, hosted monthly by the Pacific Forum, brings together policymakers, experts, and practitioners to address pressing political, economic, and security issues in the Indo-Pacific. VP Latheef’s speech resonated with attendees as a clarion call for solidarity in tackling the disproportionate impacts of climate change on vulnerable nations.
