As technological breakthroughs are occurring at an increasing pace, President Nasheed has said polluters will be forced to pay for the damage their products cause. He made this statement while addressing the World Future Energy Summit which began in Abu Dhabi today.

In his address the President said that the change needed to combat climate change was radical, although we do not possess all the technologies.

However, expressing optimism over “mankind’s infinite capacity for innovation and change,” Nasheed said that countries and companies that chose to lead this change would be the winners of this century.

Speaking more in this regard, he said tackling climate change was “not like dealing with other global issues such as trade or disarmament”, because we do not have the time “to meet…in endless negotiations”.

“And the science of climate change means we cannot accept a watered-down, minimalist treaty,” said the President.

Speaking on tackling climate change, Nasheed said we must learn to live within the planetary boundaries. He further added that by the end of the century, the entire world needed to go carbon neutral.

Highlighting the outcome of climate summit in Copenhagen, President Nasheed noted that though Copenhagen achieved only limited results, at the summit world leaders also took important steps forward such as:

- agreeing to limit future temperature rises

- committed financing to help poor countries adapt to climate change and pursue green development

He said the Copenhagen Accord, in its current form, would not prevent catastrophic climate change, and that the challenge would be to strengthen the Accord “so it becomes a blueprint for planet - saving action”.

“The vast majority of world leaders are determined to strengthen the Copenhagen Accord,” he added.

Continuing in this regard, he said that when the Accord is strengthened, market failures would be corrected and carbon pollution would be properly penalised.

He also said that cost of carbon intensive production would rise sharply over the coming decades, while at the same time renewables are becoming more efficient and affordable.

“To my mind, the smart money is green,” said President Nasheed.