What The Bahamas need to address climate vulnerability

Rashaed Esson

Staff Writer

#TheBahamas, September 9, 2023 – Attiya Waris, UN Independent Expert on foreign debt, international financial obligations and human rights, says the Bahamas is in need of “long-term financial planning to address its climate vulnerability and economic dependence on tourism.”

She urged the International community to take action and support The Bahamas as well as small island states that are high on the risk scale for natural disasters from climate change.

“The reality is that they should be supported by the international community, including international financial institutions and development banks.”

Additionally, she informed that because of the country’s high income status, its reach to international financial institution loans and development aid is limited.

Pointing out that the archipelago has unique challenges of its own that call for more resources compared to other states, such as a high cost of living and serious climate affiliated disasters, she advised The Bahamas as well as the international community to adopt a comparative indicator other than Gross Domestic Product (GDP) per capita.

Furthermore, the Expert also urged the Government to make moves considering long-term economic planning identifies the effects of climate change and explore the diversification of its economy to reduce the   dependence on tourism, increase its food security and use local innovation.

In light of this, Waris referred to the country’s reliance on tourism and picked at its decline following hurricane Dorian in 2019, saying that it “was devastating for both the population and the country’s economy,” adding that the country is still repaying the debt incurred for reconstruction and will continue to do so for many years to come.”

Following five major hurricanes in the past decade that came down on The Bahamas,  Dorian is the most recent, causing USD 3.4 billion in damage, nearly 25 percent of the country’s GDP.

Waris was speaking in a statement at the end of a 10 day visit to the country.