President bids for renewable energy investment at summit

Speaking at the World Future Energy Summit in Abu Dhabi, Nasheed invited assembled government ministers and energy company representatives “to come to the Maldives and share the best of your technologies.”

“The Maldives is open for business. To my mind, the smart money is green,” he said, predicting the introduction of a carbon market would eventually drive up the price of fossil alternatives.

“Renewables are becoming more efficient and affordable. While fossil fuels may [now] appear cheaper, sooner or later polluters will be forced to pay for the damage their products cause. When they do, market failures will be corrected and carbon pollution will be properly penalised.”