NASSAU, Bahamas -- Prime Minister and Minister of Finance the Hon. Philip Davis said a spate of unparalleled overlapping crises – global health emergencies, conflicts, inflation, food insecurity, debt, and climate disasters – have crippled action on the 2030 Agenda and its Sustainable Development Goals towards peace, prosperity, progress, and sustainability for all.
“We are no longer waiting on the impact of climate change that scientists have warned about – we are standing in the midst of it,” the Prime Minister said at the Opening Ceremony of the Ministry of Foreign Affairs’ Diplomatic Week 2023 held at Baha Mar Resort, Monday, October 23, 2023.
The theme for the week of activities is “Celebrating 50 Years of Foreign Relations and Beyond in an Independent Bahamas."
“In The Bahamas we have recorded temperatures this summer reaching 102 Fahrenheit/39 Celsius. The adverse impacts of climate change impact our islands as both the slow onset of sea levels rising and the extreme weather events such as hurricanes and natural hazards.”
He said last month marked the anniversary of Hurricane Dorian, a hurricane that left an indelible mark on Bahamian society, both in terms of its immediate devastation and long-term economic repercussions.
“The storm’s catastrophic winds and unprecedented rainfall led to the loss of lives, homes, and infrastructure, particularly in Abaco and Grand Bahama.”
The Prime Minister said the recovery efforts have required substantial resources, diverting funds that could have been invested in education, healthcare, and other vital services.
“Additionally, the ongoing threat of climate change and more intense hurricanes underscores the urgency of adaptation and mitigation and resilience planning in The Bahamas in order to secure our economic future in an increasingly unpredictable environment.
“We have no choice but to seek creative ways to combat the costs associated with climate change, whether through multilateral agreements or through a private sector capital markets approach to financing sustainable development.”
He explained that a few weeks ago, his administration announced a new financing facility—The Bahamas Sustainable Investment Programme—designed to fund climate-resilient infrastructure, clean energy transition, coastal conservation, reducing biodiversity loss, regenerative agriculture, carbon sequestration and participation in natural asset-backed carbon credit programmes.
Prime Minister Davis said, “As we prepare for COP28 hosted by the United Arab Emirates, we look forward to this opportunity to showcase how our country has ‘rethought, rebooted and refocused’ our approach to the climate change agenda.”
In his video address at the opening ceremony, Secretary General of the United Nations, His Excellency Antonio Guterres said SIDS like The Bahamas are getting the brunt of a climate crisis that it did not create. “The UN stands with you for climate justice and global systems that deliver for all.”
He added that the UN will support The Bahamas fight to achieve the 2030 Agenda and the Sustainable Development Goals.
(BIS Photos/Anthon Thompson)
