Climate institutions in “flux”, consolidation needed for Maldives Green Fund success: leaked Transparency report
04 Jun 2013, 1:38 PM
Leah Malone
The Environment Ministry claims climate mitigation and adaptation projects have not been affected by government instability, however leaked draft Transparency Maldives reports indicate that climate governance institutions are in a state of “flux” and suffer from a lack of accountability, including the proposed Maldives Green Fund.
Currently, the Ministry of Environment and Energy (MEE) is implementing MVR 3.1 billion (US$201,298,810) worth of climate projects, which does not include donor funded programs implemented by “other sectoral agencies” and NGOs, MEE Environment Analyst, and contributor to the MGF’s establishment, Aishath Aileen Niyaz told Minivan News.
In an effort to merge all the currently established trust funds in accordance with the government’s Biosphere Reserve sustainable development policy, President Mohamed Waheed Hassan Manik’s cabinet recently proposed the establishment of a Maldives Green Fund (MGF).
“The Maldives Green Fund is designed to work as a national entity that would comply with international fiduciary standards for enabling, appraising and financing projects,” explained Niyaz.
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