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SPA Fitzgerald says that Climate Crisis Poses a ‘Financial Challenge’ for The Bahamas

Mon, Dec 4th 2023, 11:17 AM
Environment Finance Politics

Senior Policy Advisor Jerome Fitzgerald said, during his Official Remarks at the Launch of the Bahamas Sustainable Investment Programme, at COP28, on November 30, 2023, that, as a Small Island Development State (SIDS), the climate crisis posed a financial challenge for The Bahamas. 

“However, The Bahamas is constantly leading efforts at the forefront for innovative finance initiatives,” Mr. Fitzgerald said, at the event held in Expo City, Dubai.  “In our commitment to call for climate action and through a collective deliberate approach, the Government of The Bahamas launched The Bahamas Sustainable Investment Programme (BSIP) at the Clinton Global Initiative in September of this year.”

He added: “The Bahamas Sustainable Investment Programme is an ambitious initiative that will strategically mobilize high-quality investments that will meet Environmental, Social and Governance (ESG) indicators and serve as a demonstration of private sector actors and government working together for strong climate action.”

Mr. Fitzgerald noted that the “innovative” programme was designed by Resilience Capital Ventures (RCV), in collaboration with The Bahamas’ policy teams.

“BSIP has been positioned to encompass emerging initiatives and priorities for the Western Hemisphere as outlined in the Nassau Declaration and The Bahamas Declaration, which were recently adopted at the Organization of American States (OAS) Fourth Inter-American Meeting of Ministers and High-level Authorities on Sustainable Development, and the Climate Finance in the Americas Meeting – in October of this year,” he said.  “These declarations advanced climate action in the hemisphere and highlight The Bahamas’ ongoing efforts as a regional leader and representative of SIDS.”

“BSIP, as an innovative financial programme consists, of three pillars: The Bahamas Sustainable Investment Strategy, The Bahamas Sustainable Investment Facility, and The Bahamas Sustainable Investment Infrastructure,” Mr. Fitzgerald added.  “These pillars formulate a national strategy for sustainable investment, prioritized investment projects; an investment facility with a target of USD 500 million and upgraded institutional infrastructure.”

Mr. Fitzgerald noted that, as The Bahamas approached “critical” climate milestones at COP28, The Government of The Bahamas was signaling that partnerships were key to address the climate crisis and advance sustainable development.

“We invite you to actively participate in this afternoon’s programme, and we remain ready to forge new partnerships and synergies for climate action – in our country and the region,” Mr. Fitzgerald said.

Senior Policy Advisor Jerome Fitzgerald said, during his Official Remarks at the Launch of the Bahamas Sustainable Investment Programme, at COP28, on November 30, 2023, that, as a Small Island Development State (SIDS), the climate crisis posed a financial challenge for The Bahamas. 
“However, The Bahamas is constantly leading efforts at the forefront for innovative finance initiatives,” Mr. Fitzgerald said, at the event held in Expo City, Dubai.  “In our commitment to call for climate action and through a collective deliberate approach, the Government of The Bahamas launched The Bahamas Sustainable Investment Programme (BSIP) at the Clinton Global Initiative in September of this year.”
He added: “The Bahamas Sustainable Investment Programme is an ambitious initiative that will strategically mobilize high-quality investments that will meet Environmental, Social and Governance (ESG) indicators and serve as a demonstration of private sector actors and government working together for strong climate action.”
Mr. Fitzgerald noted that the “innovative” programme was designed by Resilience Capital Ventures (RCV), in collaboration with The Bahamas’ policy teams.
“BSIP has been positioned to encompass emerging initiatives and priorities for the Western Hemisphere as outlined in the Nassau Declaration and The Bahamas Declaration, which were recently adopted at the Organization of American States (OAS) Fourth Inter-American Meeting of Ministers and High-level Authorities on Sustainable Development, and the Climate Finance in the Americas Meeting – in October of this year,” he said.  “These declarations advanced climate action in the hemisphere and highlight The Bahamas’ ongoing efforts as a regional leader and representative of SIDS.”
“BSIP, as an innovative financial programme consists, of three pillars: The Bahamas Sustainable Investment Strategy, The Bahamas Sustainable Investment Facility, and The Bahamas Sustainable Investment Infrastructure,” Mr. Fitzgerald added.  “These pillars formulate a national strategy for sustainable investment, prioritized investment projects; an investment facility with a target of USD 500 million and upgraded institutional infrastructure.”
Mr. Fitzgerald noted that, as The Bahamas approached “critical” climate milestones at COP28, The Government of The Bahamas was signaling that partnerships were key to address the climate crisis and advance sustainable development.
“We invite you to actively participate in this afternoon’s programme, and we remain ready to forge new partnerships and synergies for climate action – in our country and the region,” Mr. Fitzgerald said.
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