Ding! We have a winner...
...for the "best exploitation of 'global warming' for the week". (And it's only Monday!)
The economy of the Maldives is completely dominated by tourism, and tourism is the only reason that the vast majority of people who live there get to live there and have anything above a stone-age standard of living.
The tourists who bring their money to support the economy of the Maldives and make grand schemes like this possible have to travel thousands of miles, usually by jet aircraft burning vast amounts of CO2-emitting fossil fuels. And then, most take fossil-fueled-powered boats the final miles to their ultimate destinations. For those who are fortunate enough to already live there, their CO2 impact isn't any better. Nearly everything they need to survive, including food and fuel is brought via aircraft or by diesel or oil-powered shipping.
If the residents of the Maldives honestly believe that CO2 is solely responsible for ultimately dooming their islands, then I think they have the moral obligation to either revert to a completely carbon-free existence, (which means giving up the tourist trade) or leave. Demanding that the rest of the world pay them money so that they can continue with nonsense like this unabated is simply self-serving and hypocritical. And shame on the rest of the world for falling for it.