The President calls on a globally shared price on carbon

Speaking at the Business for Environment Global Summit being held at Seoul, South Korea, President Mohamed Nasheed has said that “we live in a global economy; therefore the price on carbon must also be global”.

He said that for the Maldives to flourish for another thousand years, the world must fix the economic system that “created this mess”, and that we must bring into the market the externality of fossil fuel consumption.

Stating that a serious price on carbon would “unleash tremendous change” and allocate capital to cleaner technologies, the President said the green revolution would reshape geopolitics.
Outlining Maldives’ efforts to become carbon neutral, the President said “what we are attempting in the Maldives will soon need to be done everywhere else”.

“Some countries are still arguing development means becoming dirtier and dirtier as they become richer and richer,” said President Nasheed.

He also said for the world to avoid potentially catastrophic warning, we need to see global carbon neutrality by mid-century.

Continuing his speech, the President said scientists are now showing that this planet has boundaries.

However, he said, he does “not believe this knowledge represents a straitjacket on human growth and prosperity” and that he has faith in human ingenuity.

“I believe it allows us to flourish indefinitely, rather than enjoying a short-term bonanza at the price of future disaster,” he said.

In the speech which was focused on democratic reform efforts in the Maldives, the President said this was a time for change and that change means uncomfortable uncertainties as well as new opportunities.

He concluded his speech calling the world to “leave behind the dirty economy of the 20th century”.

B4E, the Business for Environment Global Summit, is the world’s leading international conference for dialogue and business-driven action for the environment. The summit addresses the most urgent environmental challenges facing the world today. Important topics on the agenda include resource efficiency, renewable energies, new business models and climate policy and strategies.