News

Stakeholder Workshop on Draft Regulation for Climate Finance Data Sharing and Reporting Conducted

31 Aug 2025

The Climate Change Department of the Ministry of Tourism and Environment successfully conducted a stakeholder consultation on the Draft Regulation for Climate Finance Data Sharing and Reporting on 31st August 2025.

The consultation was held under the Capacity Strengthening for Improved Transparency of Climate Change Mitigation and Adaptation Actions in the Maldives (CBIT Maldives) Project, funded by the Global Environment Facility (GEF) and implemented by the Ministry with technical support from the United Nations Environment Programme (UNEP).

The workshop aimed to present and gather stakeholder feedback on the draft regulation being developed to formalize institutional arrangements for climate finance data sharing and reporting. The regulation outlines mandates, roles, responsibilities, and standardized procedures for both state and non-state actors to enhance transparency, accountability, and alignment with the Enhanced Transparency Framework (ETF) under the Paris Agreement.

During the workshop, participants were provided with a comprehensive overview of the context and importance of climate finance reporting obligations under the ETF. Facilitators also presented the key elements of the draft regulation, including its objectives, scope, and proposed mechanisms.

A total of 29 participants (17 male, 12 female) attended the consultation. Participants represented a wide range of institutions, including the Environment Protection Authority (EPA), Capital Market Development Authority (CMDA), Ministry of Cities, Local Government and Public Works, Ministry of Agriculture and Animal Welfare, Maldives National University (MNU), President’s Office, Local Government Authority (LGA), Ministry of Finance and Planning, Ministry of Tourism and Environment, the Maldives Space Research Organization (MSRO), the SME Development Finance Corporation (SDFC), and several private sector participants.

The consultation was conducted by Up Close Solutions Pvt Ltd, under the “Consultancy Service to Track Support for NDC Implementation” component of the CBIT Maldives Project.

The Ministry is currently incorporating the feedback gathered during the consultation into the final draft of the regulation.