As a country that’s vulnerable to the harsh impacts of climate change, The Bahamas needs new
and creative climate finance solutions. To help with this, The Bahamas Sustainable Investment
Program was launched on the first day of COP28 in Dubai.
During the launch, Prime Minister Philip Davis said through this initiative, the government is
going to survive an era of super-charged storms, by creating super-charged, win-win investment
partnerships.
“Along with our strategic advisors, Resilience Capital Ventures, we will work with regional and
global capital market leaders to underwrite and put in place an innovative financing facility. We
aim to secure a facility of $500 million,” Davis said. 
“Our priorities for this fund include spending to make our infrastructure more climate-resilient,
our transition to clean energy, conservation of our coastal zones, reduction in biodiversity loss,
regenerative agriculture, carbon sequestration, and participation in natural asset-backed carbon
credit programs.”
He explained that blended finance is a smart way to close the climate financing gap at a time
when solutions cannot be postponed.
“We will not despair. Let me tell you another reason why I’m optimistic. Consider this: another
way to say ‘small island nation,’ is to say ‘large ocean state.’ Our country’s seagrass meadows,
which cover an astonishing 97,000 square kilometres, appear to be absorbing more carbon than
the Amazon Rainforest,” the prime minister said.
“We have been mapping our seagrasses with help not only from scientists, but also tiger sharks.
Tiger sharks are a critical part of our underwater surveying team. That’s right – they swim
through our waters wearing cameras and sending back data points.  It’s always good to have
apex predators on your side. 
“Those sharks are going to help us become the first country in the world to issue Blue Carbon
Credits. So, as you can see, small countries can be big pioneers.”  
Davis added that the government and Bahamians have already engaged with the Clinton Global
Initiative on this Commitment to Action. 
“We’re honoured to be part of that extraordinary community of changemakers.  And so today,
ladies and gentlemen, here at COP28, we hope you will join us!” he said.
“Whether you partner with us on funding and financing, or by providing technical and advisory
expertise, the door for collaboration is wide open. There is indeed, a path forward that will give
my country many more tomorrows. We invite you to be part of it.”