Maldives inaugurates ESG reporting framework for private sector

The Maldives has taken a significant step towards enhancing sustainability practices in its private sector with the development of the nation’s inaugural Environment, Social, Governance (ESG) reporting framework for investments. Spearheaded by the United Nations Development Programme (UNDP) in partnership with the Capital Market Development Authority (CMDA) and advisory firm PlusValue, the initiative aims to fortify the country’s financial market sustainably while preserving its diverse biodiversity.

Aligned with the Integrated National Financing Framework (INFF) and endorsed by the Maldivian Government, the framework caters to listed companies and foreign business operators. Developed with thorough engagement and adherence to prominent international sustainability standards, including the UN Sustainable Development Goals (SDGs), the framework seeks to ensure alignment with global sustainability practices.