NASSAU, The Bahamas — The Government of The Bahamas has taken a historic step in its fight against climate change and commitment to a cleaner, more affordable energy future with the tabling of new regulations under the Climate Change and Carbon Market Initiatives Act.
The Emissions Reduction Initiatives and Incentives Regulations, tabled today in Parliament, represent a bold and forward-looking framework designed to empower citizens, businesses, and industry stakeholders to actively participate in national climate action.
The regulations are built around four core objectives:
- Empowering Participation: Enabling individuals and businesses to take part in government-supported emissions reduction programs.
- Incentivizing Clean Innovation: Offering incentives that encourage the adoption of low-to zero carbon, energy efficient, climate-friendly technologies.
- Tracking National Progress: Establishing robust systems to monitor and report on national greenhouse gas emissions in line with The Bahamas’ pledge to reduce emissions by 30% by 2030.
- Ensuring Transparency: Mandating regular public reporting to keep citizens informed on climate progress and hold all stakeholders accountable.
“These Regulations are a roadmap for climate resilience, energy independence, and economic opportunity,” said the Hon. Prime Minister Philip Davis, emphasizing the government’s commitment to both environmental sustainability and energy affordability.
The new Regulations form part of The Bahamas’ broader climate strategy, which includes investments in utility-scale solar power, the integration of liquefied natural gas (LNG), and the deployment of energy-efficient technologies across public and private sectors. This approach is underpinned by strong public-private partnerships, ensuring that the nation’s energy transition is inclusive, equitable, and economically viable.
The Government will continue to engage stakeholders across all sectors to ensure successful implementation and to keep The Bahamas on track as a regional leader in climate action and innovation.
