The Maldives signed a memorandum of understanding with the International Islamic Trade Finance Corporation (ITFC) to explore generating blue carbon credits from its coastal ecosystems and selling them to carbon markets. The Finance Ministry expects carbon credit sales to generate MVR 863.5 million, part of the government's fiscal strategy for 2024-2026.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
At ITFC, we prioritise sustainability in all our interventions aimed at supporting our member countries. This new collaboration with RVCMC and the Republic of Maldives is significant as it demonstrates the growing interest of our member co…
The voluntary carbon market scales projects that mitigate the impact of climate change and promote sustainable development, and we see significant potential in developing blue carbon projects in the Maldives.
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
These ecosystems, covering a mere one percent of the ocean floor, can store up to 10 times more carbon per unit area than terrestrial forests.
Word for word from the report in Maldives Republic. Open the report
The Finance Ministry expects carbon credit sales to generate MVR 863.5 million.
Word for word from the report in Maldives Republic. Open the report
The agreement was signed by Finance Minister Mohamed Shafeeq, representing the Maldives, and Sonbol, representing ITFC's CEO and IsDB Group Governor for the Maldives.
Word for word from the report in Maldives Republic. Open the report
