The Null Device
Posts matching tags 'sovereign wealth funds'
Threatened by rising sea levels, the Maldives' government has come up with a potential solution: divert a portion of the islands' tourist revenue into a sovereign wealth fund, and buy a new homeland.
"We can do nothing to stop climate change on our own and so we have to buy land elsewhere. It's an insurance policy for the worst possible outcome. After all, the Israelis [began by buying] land in Palestine," said Nasheed, also known as Anni.
The president, a human rights activist who swept to power in elections last month after ousting Maumoon Abdul Gayoom, the man who once imprisoned him, said he had already broached the idea with a number of countries and found them to be "receptive".
He said Sri Lanka and India were targets because they had similar cultures, cuisines and climates. Australia was also being considered because of the amount of unoccupied land available.