Renewables will reduce dependency on imported oil, Vice President tells Yale

Vice President Dr Mohamed Waheed Hassan has claimed high oil prices will dampen the economic growth of the Maldives and the global economy unless the world shifted to renewable energy.

Speaking at Yale University in the US, the first address by a Maldivian leader at the prestigious university, Dr Waheed said the most important outcome of the Maldives plans for carbon neutrality would be freedom from a dependency on imported oil.

The unpredictable price oil and the prospect of higher oil prices over the long term meant the shift to renewable energy was essential, he told the audience, reiterating that carbon neutrality was not only necessary for ecological reasons, but it was also influenced by economic considerations.