Bahamas News
Bahamas National Trust Welcomes Transformative Funding for Marine Conservation in Historic Project
November 22nd, 2024 – Nassau, Bahamas
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.
Bahamas News
Proudly Accelerating Empowerment and Leadership: The Women of Caribbean Bottling Company
Nassau, BAHAMAS — Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, stands in a unique position with 51% of its women being in positions of leadership.
As a leading beverage manufacturer and distributor in The Bahamas and Turks & Caicos, CBC is proud to honor and highlight the women leading in non-traditional roles throughout the company. Here we will explore career journeys, passions and trailblazing in unconventional roles of five key women leaders within the company.
Cynthia Fox, Production Manager; Sapphire Davis, Quality Control Coordinator; Asia Pinder Health, Safety & Environment Manager at the New Providence office, Joyann Stuart, Branch Manager for Grand Bahama and Leandra Brooks Assistant General Manager for Turks & Caicos.
- Working in a male-dominant environment
Fox: “The experience has been a blend of overcoming challenges and seizing opportunity. I’ve grown by demonstrating competence, festering collaboration and maintaining self-confidence. In doing this, you demonstrate that effective management is not about gender, but about skill and vision.”
Brooks: “I’ve always had a positive work relationship with males in every organization I’ve worked. However, working in a predominately male dominated field has its challenges, especially where some men may feel intimidated when it comes to directions provided by a woman. I was taught as a child to advocate for myself, and I apply that to my life.”
Stuart: “In a world where male dominance was regarded as the only way to go, it was very scary, however, I believe that women can succeed
and be considered an equal in any environment. I accepted my role in a predominately male field as an opportunity to advance the cause for all women. To prove that we are capable and deserve the very same advantage as our male counterparts once we put in the work.”
- Best aspects of your job
Davis: “The Production Process – I enjoy witnessing the transformation of raw materials into a finished product. Seeing each stage of the process come together—from initial testing to final quality checks—gives me a sense of accomplishment and satisfaction, knowing that I play a key role in ensuring the product meets high standards before reaching the market.”
Pinder: “I love the fact that I am a key asset for CBC’s growth. I have learnt so much in regard to my position as an HSE Manager, it not only had an effect on my professional life, but I have grown so much personally. My hidden strengths have evolved over the years.
Brooks: “Learning new things. As a woman I’ve never thought that I’d be driving a forklift or freight liner among others. Working here has pushed me out of my comfort zone accomplishing things.
- Advice to women in non-traditional roles
Fox: “Believe in your abilities, embrace continuous learning and growth, find allies and mentors, challenge stereotypes, but don’t let them define you, stay resilient and be your authentic self”
Davis: “My advice is to believe in your abilities, be confident in your knowledge, and never be afraid to take up space. Seek mentorship and most importantly, remember that your voice and contributions are valuable—inspire the next generation of women.”
Brooks: “Number one, never be afraid or intimidated. If you’re faced with a conflict always stand your ground, in a respectful way of course. Some men will try to intimidate you, never back down or be afraid to speak up. And always remember, if you were chosen for the job, that means you have as much to offer as your male counterparts. It’s up to you to put in the work and show why you were the best candidate for the position.”
Stuart: “The advice I would give women interested in working in untraditional fields is to accept the challenge. Bring your femininity and be your authentic self. Establish yourself as a fierce contender and work with integrity, grit and tenacity.”
- Women who have impacted your career
Davis: “Several women have played a significant role in shaping my career. Many being mentors to professors who have provided guidance and encouragement. I have been fortunate to learn from strong female leaders like my Manager, Ms. Charmin Lotmore and the Production Manager Ms. Cynthia Fox, who demonstrate confidence, determination, and excellence in their roles daily.”
Pinder: “I would not single out one person as a role model, but I will say I have an admiration of various character traits from the women of my family. I am surrounded by women who exemplify strength, courage and wisdom, so it’s very hard for me to single one out.”
Stuart: “I am extremely grateful for several women; however, honorable mention goes to Ms. Gaitor who was a part of the hiring process when I joined the Coca Cola team. My appreciation is to my grandmother, the late Beulah Morley who raised me to be a strong, independent, and God-fearing woman. She reminded me to never allow anyone to overshadow my value as a woman.
To learn more about CBC’s employee highlights, philanthropic work or new products visit their website at www.cbcbahamas.com or follow-on social media at @caribbeanbottling .
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