Rashaed Esson
Staff Writer
#TheBahamas, December 5, 2023 – The Bahamas government highlighted its intentions for the upcoming Cop28 conference which includes taking part in the negotiation process, advancing investment programmes and the launching of major projects.
According to Dr. Rochell Newbold, Climate Advisor, for negotiations, there are three potential outputs the country is looking to follow and they include loss and damage, the technical assistance that will be offered to countries within the loss and damage space and following up on the issues of global stocktake.
For the loss and damage fund, she speaks to the efforts of small island developing states since Cop27, to enhance matters relevant to the loss and damage fund.
This intention, that is to encourage dialogue around this issue, comes as there are geopolitical issues going on globally and global finances are going to those issues and not to global issues of climate change.
In fact, referring to actual statistics, she expressed that in as little as a few months, more than $200 billion dollars were raised and distributed to the issue of war and yet, for years there has been talks around $100 billion needed to address the climate agreement.
For issues of investment opportunities, opportunities which Newbold says would bring great success for The Bahamas, she referred to a current investment project in the country that is a financial grant to address energy and water needs on nine islands within the archipelago, which they are looking to expand.
Furthermore, at Cop28, The Bahamas will launch its BlueCo Caribbean project, driving the blue economy and investment strategy, Newbold said.
This program comes after a regional meeting last year where it was highlighted that the region needs a program to address the needs of island states as well as the fact that less than 0.1 percent of global investments go to the marine environment.
Regarding global stock take, it addresses everything related to the world’s position on climate action and support, identifying the gaps, and working to chart a better course forward to accelerate climate action, according to the United Nations Framework Convention on Climate Change (UNFCCC).
Additionally, Newbold made another revelation that they will be unveiling The Bahamas Sustainable Investment programme, which has been worked on since Cop 27.
Described as a sleek and tactical delegation, the advisor said less than 20 people will be attending Cop28 including the Prime Minister, Minister of Foreign Affairs and the Minister with Responsibility for Energy and Transportation.