The Bahamas National Trust (BNT), along with other partners in conservation, natural resource management, and finance, is supporting The Government of The Bahamas with the official launch of “The Bahamas Debt Conversion Project for Marine Conservation” - a historic initiative that will allow the country to refinance commercial debt while receiving financing to support marine conservation.

As the local conservation organization responsible for managing The Bahamas' national parks and protecting critical terrestrial and marine ecosystems, the BNT’s role will be collaborating with the Bahamian government and local communities to strengthen stewardship of the country’s recently expanded marine protected areas (MPAs); contribute to the creation of a National Mangrove Management Plan designed to enhance protection, management, and restoration of these essential habitats that support climate resiliency; and develop and implement a marine spatial plan to address increasing demands for use of The Bahamas’ ocean and improve management of the country’s marine areas.

The BNT applauds this project, which will empower us to enhance our capacity for effectively managing MPAs, safeguarding biodiversity, and supporting climate resiliency and sustainable livelihoods across the country.

Developed in collaboration with the Inter-American Development Bank (IDB), The Nature Conservancy (TNC), Builders Vision, AXA XL, and Standard Chartered, the innovative Bahamas Debt Conversion Project for Marine Conservation will generate an estimated USD 124 million of new cash funding for marine conservation over the next 15 years, without adding to the country’s debt. The project is part of the Bahamian authorities' fiscal consolidation efforts. By repurchasing USD 300 million of external commercial debt using proceeds from a new USD 300 million loan provided by Standard Chartered—secured with favorable terms thanks to credit enhancements from the IDB, Builders Vision, and AXA XL—The Bahamas has reduced its debt stock and scheduled debt service, while simultaneously unlocking essential funding for marine and climate priorities. An endowment, expected to grow to USD 20 million by 2039, will continue funding marine conservation in The Bahamas beyond the project’s 15-year term.

The Bahamas Debt Conversion Project for Marine Conservation is the most recent of TNC’s Nature Bonds projects, which are powerful tools that combine debt refinancing, ecological and social science, conservation planning, and policy to support countries in achieving their conservation and climate goals. TNC is serving as project sponsor, conservation/technical advisor to The Government of The Bahamas, and credit enhancement facilitator.

Rothschild & Co. served as a financial advisor to The Bahamas Ministry of Finance on this transaction. The conservation funding generated by this project will be managed by The Bahamas Protected Areas Fund (BPAF), a conservation trust fund.

BNT Executive Director Lakeshia Anderson-Rolle said: “Achieving lasting conservation requires bold and sustainable solutions, and funding remains one of our greatest challenges in managing protected areas. The resources from this project will empower us to scale our conservation efforts, build a team capable of managing our growing national park system, and enhance critical infrastructure across our national parks. This initiative is a transformative step toward safeguarding The Bahamas' natural legacy, ensuring that our unique ecosystems, biodiversity, and local communities thrive for generations.”

As the largest marine conservation funding program in the country's history, The Bahamas Debt Conversion Project for Marine Conservation will bolster the management of The Bahamas' extensive marine protected areas, which already encompass more than 17% of its nearshore environment—an indication of the nation's longstanding commitment to marine conservation, as one of the largest marine protected area systems in the Caribbean.

“Since 1958 The Bahamas has led in ocean conservation, specifically with the establishment of the Exuma Cays Land and Sea Park (ECLSP). Now our nation takes another ambitious step with an economic program that promotes ocean conservation and benefits local communities,” said Rochelle Newbold, Director of the Climate Change and Environmental Advisory Unit of the Government of The Bahamas. “By strengthening the protection and management programs of the marine protected area system, we will safeguard livelihoods, boost the economy, and contribute to global ocean protection goals.”

“Investments in conservation and climate resilience across The Bahamas yield considerable benefits across our islands and for our neighbors,” said Bahamas Protected Areas Fund Board Chair Glenn Bannister. “Growing threats to our natural environment, including over-exploitation, climate change, and increasingly limited funding, are impacting the sustainable management of our resources and have placed critical ecosystems and ecosystem services at risk.

“BPAF applauds The Government of The Bahamas, Inter-American Development Bank, and The Nature Conservancy for structuring The Bahamas’ first debt conversion designed to generate sustainable revenues to protect our most important marine ecosystems and support Bahamian livelihoods. We are pleased to be a part of this very innovative solution.”

This collaborative undertaking between public and private sectors underscores the impact of partnerships to achieve ambitious conservation outcomes. The project represents a commitment to a healthier environment, a stronger economy, and a more resilient future for all Bahamians.

To learn more about the BNT's role in managing national parks, protecting wildlife, and informing environmental policy, please visit its website: www.bnt.bs, and follow its various social media channels: Facebook, Instagram, Twitter, and YouTube.

The Bahamas National Trust (BNT), along with other partners in conservation, natural resource management, and finance, is supporting The Government of The Bahamas with the official launch of “The Bahamas Debt Conversion Project for Marine Conservation” - a historic initiative that will allow the country to refinance commercial debt while receiving financing to support marine conservation. As the local conservation organization responsible for managing The Bahamas' national parks and protecting critical terrestrial and marine ecosystems, the BNT’s role will be collaborating with the Bahamian government and local communities to strengthen stewardship of the country’s recently expanded marine protected areas (MPAs); contribute to the creation of a National Mangrove Management Plan designed to enhance protection, management, and restoration of these essential habitats that support climate resiliency; and develop and implement a marine spatial plan to address increasing demands for use of The Bahamas’ ocean and improve management of the country’s marine areas. The BNT applauds this project, which will empower us to enhance our capacity for effectively managing MPAs, safeguarding biodiversity, and supporting climate resiliency and sustainable livelihoods across the country. Developed in collaboration with the Inter-American Development Bank (IDB), The Nature Conservancy (TNC), Builders Vision, AXA XL, and Standard Chartered, the innovative Bahamas Debt Conversion Project for Marine Conservation will generate an estimated USD 124 million of new cash funding for marine conservation over the next 15 years, without adding to the country’s debt. The project is part of the Bahamian authorities' fiscal consolidation efforts. By repurchasing USD 300 million of external commercial debt using proceeds from a new USD 300 million loan provided by Standard Chartered—secured with favorable terms thanks to credit enhancements from the IDB, Builders Vision, and AXA XL—The Bahamas has reduced its debt stock and scheduled debt service, while simultaneously unlocking essential funding for marine and climate priorities. An endowment, expected to grow to USD 20 million by 2039, will continue funding marine conservation in The Bahamas beyond the project’s 15-year term. The Bahamas Debt Conversion Project for Marine Conservation is the most recent of TNC’s Nature Bonds projects, which are powerful tools that combine debt refinancing, ecological and social science, conservation planning, and policy to support countries in achieving their conservation and climate goals. TNC is serving as project sponsor, conservation/technical advisor to The Government of The Bahamas, and credit enhancement facilitator. Rothschild & Co. served as a financial advisor to The Bahamas Ministry of Finance on this transaction. The conservation funding generated by this project will be managed by The Bahamas Protected Areas Fund (BPAF), a conservation trust fund. BNT Executive Director Lakeshia Anderson-Rolle said: “Achieving lasting conservation requires bold and sustainable solutions, and funding remains one of our greatest challenges in managing protected areas. The resources from this project will empower us to scale our conservation efforts, build a team capable of managing our growing national park system, and enhance critical infrastructure across our national parks. This initiative is a transformative step toward safeguarding The Bahamas' natural legacy, ensuring that our unique ecosystems, biodiversity, and local communities thrive for generations.” As the largest marine conservation funding program in the country's history, The Bahamas Debt Conversion Project for Marine Conservation will bolster the management of The Bahamas' extensive marine protected areas, which already encompass more than 17% of its nearshore environment—an indication of the nation's longstanding commitment to marine conservation, as one of the largest marine protected area systems in the Caribbean. “Since 1958 The Bahamas has led in ocean conservation, specifically with the establishment of the Exuma Cays Land and Sea Park (ECLSP). Now our nation takes another ambitious step with an economic program that promotes ocean conservation and benefits local communities,” said Rochelle Newbold, Director of the Climate Change and Environmental Advisory Unit of the Government of The Bahamas. “By strengthening the protection and management programs of the marine protected area system, we will safeguard livelihoods, boost the economy, and contribute to global ocean protection goals.” “Investments in conservation and climate resilience across The Bahamas yield considerable benefits across our islands and for our neighbors,” said Bahamas Protected Areas Fund Board Chair Glenn Bannister. “Growing threats to our natural environment, including over-exploitation, climate change, and increasingly limited funding, are impacting the sustainable management of our resources and have placed critical ecosystems and ecosystem services at risk. “BPAF applauds The Government of The Bahamas, Inter-American Development Bank, and The Nature Conservancy for structuring The Bahamas’ first debt conversion designed to generate sustainable revenues to protect our most important marine ecosystems and support Bahamian livelihoods. We are pleased to be a part of this very innovative solution.” This collaborative undertaking between public and private sectors underscores the impact of partnerships to achieve ambitious conservation outcomes. The project represents a commitment to a healthier environment, a stronger economy, and a more resilient future for all Bahamians. To learn more about the BNT's role in managing national parks, protecting wildlife, and informing environmental policy, please visit its website: www.bnt.bs, and follow its various social media channels: Facebook, Instagram, Twitter, and YouTube.

Amidst recent unprecedented climate events which have left numerous countries grappling with devastating loss of life and economic blows, Small Island Developing States (SIDS) are intensifying their call for a transformative New Collective Quantified Finance goal, the NCQG, at COP29.

The Alliance of Small Island States (AOSIS) warns that neglecting the special circumstances of SIDS in the current climate finance discussions jeopardizes the survival of the world’s most vulnerable populations. SIDS, who have long criticized the inefficiency of the previous USD 100 billion climate finance target, fear that COP29 could result in another failure to adequately address the climate crisis.

“Achieving the 1.5°C global warming limit is more than just a survival issue for these nations—it is crucial for ensuring a sustainable future for everyone,” said AOSIS Chair, Ambassador Fatumanava Dr. Pa'olelei Luteru. “For our islands, a significantly ambitious new climate finance goal, the NCQG, is the key that unlocks the path to Keep 1.5 Alive, and delivers for mitigation, adaptation and loss and damage response.”

“Adequate climate finance is essential to achieving the goals of the Paris Agreement and the UN Framework Convention on Climate Change (UNFCCC). Without it, the global effort to limit warming to 1.5°C is at risk, along with the future of sustainable development for all.”

SIDS are pushing for climate finance that is new, additional, predictable, and adequate—critical to address the evolving needs of vulnerable nations. The NCQG must facilitate not only mitigation of further warming but also build resilience to unavoidable climate impacts and address the loss and damage already caused by decades of global emissions.

The proposed NCQG should meet key criteria, including:

- Finance that is new, additional, and separate from official development assistance (ODA) or other international flows.
- Grants for adaptation and loss and damage, rather than loans or repurposed funds.
- Minimum allocation floors for SIDS.
- With this amount set to increase as the climate crisis deepens.

SIDS also call for prioritizing concessional finance, especially for adaptation and loss and damage efforts, to protect lives, livelihoods, and ecosystems in these vulnerable regions.

“We are running out of time in this critical decade to halve emissions by 2030, and the stakes here at COP29 are incredibly high,” noted Ambassador Luteru. “COP29 must reinforce last year’s momentous agreement to transition away from fossil fuel, and continue the momentum with a bold new climate finance deal that benefits us all. "COP29 must be a defining moment in multilateralism, securing actionable solutions to deescalate the climate threats endangering our world."

About AOSIS:

Since 1990, AOSIS has represented the interests of the 39 small island and low-lying coastal developing states in international climate change, sustainable development negotiations and processes. As a voice for the vulnerable, its mandate is more than amplifying marginalised voices as it also advocates for these countries’ interests. In terms of size, AOSIS closely resembles the countries it represents on the global stage, but often punches far above its weight, negotiating historic global commitments to cut greenhouse gas emissions, among other achievements.

Amidst recent unprecedented climate events which have left numerous countries grappling with devastating loss of life and economic blows, Small Island Developing States (SIDS) are intensifying their call for a transformative New Collective Quantified Finance goal, the NCQG, at COP29. The Alliance of Small Island States (AOSIS) warns that neglecting the special circumstances of SIDS in the current climate finance discussions jeopardizes the survival of the world’s most vulnerable populations. SIDS, who have long criticized the inefficiency of the previous USD 100 billion climate finance target, fear that COP29 could result in another failure to adequately address the climate crisis. “Achieving the 1.5°C global warming limit is more than just a survival issue for these nations—it is crucial for ensuring a sustainable future for everyone,” said AOSIS Chair, Ambassador Fatumanava Dr. Pa'olelei Luteru. “For our islands, a significantly ambitious new climate finance goal, the NCQG, is the key that unlocks the path to Keep 1.5 Alive, and delivers for mitigation, adaptation and loss and damage response.” “Adequate climate finance is essential to achieving the goals of the Paris Agreement and the UN Framework Convention on Climate Change (UNFCCC). Without it, the global effort to limit warming to 1.5°C is at risk, along with the future of sustainable development for all.” SIDS are pushing for climate finance that is new, additional, predictable, and adequate—critical to address the evolving needs of vulnerable nations. The NCQG must facilitate not only mitigation of further warming but also build resilience to unavoidable climate impacts and address the loss and damage already caused by decades of global emissions. The proposed NCQG should meet key criteria, including: - Finance that is new, additional, and separate from official development assistance (ODA) or other international flows. - Grants for adaptation and loss and damage, rather than loans or repurposed funds. - Minimum allocation floors for SIDS. - With this amount set to increase as the climate crisis deepens. SIDS also call for prioritizing concessional finance, especially for adaptation and loss and damage efforts, to protect lives, livelihoods, and ecosystems in these vulnerable regions. “We are running out of time in this critical decade to halve emissions by 2030, and the stakes here at COP29 are incredibly high,” noted Ambassador Luteru. “COP29 must reinforce last year’s momentous agreement to transition away from fossil fuel, and continue the momentum with a bold new climate finance deal that benefits us all. "COP29 must be a defining moment in multilateralism, securing actionable solutions to deescalate the climate threats endangering our world." About AOSIS: Since 1990, AOSIS has represented the interests of the 39 small island and low-lying coastal developing states in international climate change, sustainable development negotiations and processes. As a voice for the vulnerable, its mandate is more than amplifying marginalised voices as it also advocates for these countries’ interests. In terms of size, AOSIS closely resembles the countries it represents on the global stage, but often punches far above its weight, negotiating historic global commitments to cut greenhouse gas emissions, among other achievements.

Following complaints from residents regarding an oil spill at Bahamas Power and Light (BPL) in April of this year, the Hon. Vaughn P. Miller, Minister of the Environment and Natural Resources, along with a technical team from the Department of Environmental Health Services (DEHS), visited Bahamas Power and Light.  He returned recently, in October, and was happy with the progress made by BPL with the clean up.

For nearly 20 years Coca-Cola has been a proud partner of the Ocean Conservancy’s International Costal Cleanup, sponsored by Blue Lagoon Island Bahamas, which aligns perfectly with the company’s environmental mission and goals.

Caribbean Bottling Company’s (CBC), local producers of Coca-Cola and Dasani products, volunteers watched the sunrise at South Beach Poolside as they began setting up for the event’s 8:30 a.m. start on Saturday, September 21.

In addition to providing volunteers, CBC also supplied exciting promotional items, and refreshing beverages for volunteers and organizers.

As volunteers flooded the beach to participate in Coastal Cleanup Day, they were kept hydrated by Coca-Cola's donation of Coca-Cola Oreo No Sugar, Sprite No Sugar, Minute Maid, Dasani Flavored Water and Dasani Water.

Teshalla Clarke, Education & Sustainability Supervisor at Blue Lagoon Island shared what Coca-Cola's support meant to the overall success of the day.

“Words cannot begin to express how grateful Blue Lagoon Island is towards Caribbean Bottling Company/ Coca-Cola. Your corporate sponsorship allows us to engage our local communities through volunteer-ship.” Clarke expressed.

“Coca-Cola’s support has always been a force. Whether its beverages donated or volunteers that show out, your assistance is undeniable. We have developed a beautiful relation with the company, one we hope to continue for future Coastal Cleanups.” Clarke concluded.

Paulette Dormeus, Brand Manager Associate at CBC spoke about her experience at the Coastal Cleanup.

“This is my second-year volunteering at Coastal Cleanup Day, and I’m super proud that Coca-Cola can support this super important initiative.” she shared.

After transforming South Beach volunteers swarmed Coca-Cola's trailer where they were greeted with smiles, refreshing drinks and promotional items applauding their hard work.

“It always amazes me at all the organizations that come out to clean the beach. Waking up this early on a Saturday morning is not the easiest thing to do but that’s why we’ve provided a variety of beverages to keep everyone hydrated.” Dormeus said.

To stay up to date with Caribbean Bottling Company and Coca-Cola's community initiatives visit the website at www.cbcbahamas.com today.

For nearly 20 years Coca-Cola has been a proud partner of the Ocean Conservancy’s International Costal Cleanup, sponsored by Blue Lagoon Island Bahamas, which aligns perfectly with the company’s environmental mission and goals. Caribbean Bottling Company’s (CBC), local producers of Coca-Cola and Dasani products, volunteers watched the sunrise at South Beach Poolside as they began setting up for the event’s 8:30 a.m. start on Saturday, September 21. In addition to providing volunteers, CBC also supplied exciting promotional items, and refreshing beverages for volunteers and organizers. As volunteers flooded the beach to participate in Coastal Cleanup Day, they were kept hydrated by Coca-Cola's donation of Coca-Cola Oreo No Sugar, Sprite No Sugar, Minute Maid, Dasani Flavored Water and Dasani Water. Teshalla Clarke, Education & Sustainability Supervisor at Blue Lagoon Island shared what Coca-Cola's support meant to the overall success of the day. “Words cannot begin to express how grateful Blue Lagoon Island is towards Caribbean Bottling Company/ Coca-Cola. Your corporate sponsorship allows us to engage our local communities through volunteer-ship.” Clarke expressed. “Coca-Cola’s support has always been a force. Whether its beverages donated or volunteers that show out, your assistance is undeniable. We have developed a beautiful relation with the company, one we hope to continue for future Coastal Cleanups.” Clarke concluded. Paulette Dormeus, Brand Manager Associate at CBC spoke about her experience at the Coastal Cleanup. “This is my second-year volunteering at Coastal Cleanup Day, and I’m super proud that Coca-Cola can support this super important initiative.” she shared. After transforming South Beach volunteers swarmed Coca-Cola's trailer where they were greeted with smiles, refreshing drinks and promotional items applauding their hard work. “It always amazes me at all the organizations that come out to clean the beach. Waking up this early on a Saturday morning is not the easiest thing to do but that’s why we’ve provided a variety of beverages to keep everyone hydrated.” Dormeus said. To stay up to date with Caribbean Bottling Company and Coca-Cola's community initiatives visit the website at www.cbcbahamas.com today.