Bahamas commits to climate finance partnership with UK to protect oceans

The Bahamas government says it remains committed to working with authorities in the United Kingdom to mobilize billions of dollars in private investment while protecting “our seagrass and our oceans, and build a global movement that places nature at the heart of climate action.”

In a pre-recorded message to the UK Houses of Parliament on Climate Leadership, Nature Finance, and Global Partnerships, Prime Minister Phillip Davis apologized for his absence but thanked stakeholders for “convening us at this pivotal moment for climate and nature.”

He acknowledged that The Bahamas faces some of the most significant challenges both on land and at sea, citing “the preservation of our natural world in the face of climate change and economic turbulence.”

“The Bahamas is proud to stand at the forefront of this initiative. As a small island state, we face the realities of climate change every day. Rising seas, stronger storms, and the fragility of ecosystems on which our people depend are daily realities. For us, this is not a distant concern; it is the defining challenge of our generation,” Davis said.

But the prime minister stressed that his message was not “to speak only of vulnerability,” adding, “we come to speak of leadership, innovation, and partners.”

He said the Caribbean Community (CARICOM) nation is determined to show that countries on the frontline of climate change can also lead in solutions, demonstrating that natural capital can be properly valued, effectively financed, and safeguarded for future generations.

“One of our greatest assets lies beneath the surface of our waters: vast meadows of seagrass. These ecosystems are not only beautiful; they are among the most powerful carbon sinks in the world, capable of storing up to 35 times more carbon than tropical rainforests,” he explained.

“They shelter our marine life, sustain our fisheries, and act as a natural shield against coastal erosion. In short, they are vital to our economy, our communities, and our future. Yet until now, ecosystems such as seagrass have been undervalued in global finance.”

Davis said The Bahamas is excited to be part of the UK-backed initiative, supported by the City of London’s financial expertise, which is developing innovative finance models to support climate and nature resilience.

He pointed to “article 6.2 cooperation, blended finance vehicles, and high-integrity carbon markets” as tools that can transform how countries protect ecosystems, ensuring they are treated not only as natural treasures but also as assets of global importance.

“By demonstrating these models in The Bahamas, alongside our friends in Bolivia and other partner nations, we can prove to the world that climate and nature finance is not an abstract concept. It is real. It is investable. And it delivers resilience and prosperity for both people and nature,” Davis said.

Currently in Ethiopia for the second CARICOM-African Summit, Davis underscored The Bahamas’ commitment to working closely with the UK, Bankers for Net Zero, and international partners.

“Together, we can mobilize billions in private investment, protect our seagrass and our oceans, and build a global movement that places nature at the heart of climate action. Let us ensure that history reflects that we, in partnership across borders, had the vision and the courage to act, and that we turned finance into a force for safeguarding our planet,” he said.