Locations
Climate Finance Network
Financing a climate-resilient future in the Maldives
Introduction
As a nation on the frontlines of the climate crisis, UNDP Maldives is focused on building the institutional readiness required to access and manage climate finance. Efforts are dedicated to creating strong project pipelines and ensuring every dollar spent on climate action delivers transparent, measurable impact. This work is part of the Climate Finance Network, supported by the UK FCDO CARA Programme
What we do
Developing bankable climate projects
- The challenge: Coordinating national efforts to build a strong, consistent pipeline of projects eligible for major international climate funds.
- The approach: Design a sustainable project preparation facility (the Maldives Sustainable Finance Hub), alongside connecting national stakeholders with multilateral funding partners.
- The impact: Enhanced national capacity to secure and deploy climate finance for large-scale adaptation and resilience efforts.
What we do
Developing bankable climate projects
- The challenge: Coordinating national efforts to build a strong, consistent pipeline of projects eligible for major international climate funds.
- The approach: Design a sustainable project preparation facility (the Maldives Sustainable Finance Hub), alongside connecting national stakeholders with multilateral funding partners.
- The impact: Enhanced national capacity to secure and deploy climate finance for large-scale adaptation and resilience efforts.
Ensuring transparent climate spending
- The challenge: Maintaining strong oversight, transparency, and accountability for all climate finance investments.
- The approach: Partnerships with the Auditor General’s Office enhance institutional capacity for environmental and climate-performance audits.
- The impact: A robust accountability framework that maximizes the impact of climate action and serves as a governance model for other Small Island Developing States.
Our impact in action
Strengthening climate budgeting
Support for a climate and GESI assessment of public financial management directly led to the development of a national climate budget tagging (CBT) typology. The Ministry of Finance is now leading the budget tagging process, which will be institutionalized in 2026.
Informing national policy with an economic modeling tool
Support for an economic modeling tool on the impacts of climate change was highlighted in the national 2026 budget book. The tool will be used to compile the country’s official fiscal risk statement, directly embedding climate risk into national economic planning.
