The Bahamas to undertake a debt-for-nature swap
November 27, 2024
The government of the Bahamas will undertake a debt-for-nature swap in a deal with The Nature Conservancy, the Inter-American Development Bank, and others, reports AP News. The country will repurpose $300 million of its external debt and leave over $120 million for marine conservation projects and climate change mitigation over the next 15 years, setting in place an endowment fund to continue project financing after the project is over.
The swap, only the fifth of its kind globally, is set to protect large conservation areas. According to The Nature Conservancy, “It’s also the first time that the project includes climate change mitigation commitments.” As the IDB notes, “The Bahamas debt conversion project will provide critical funding for initiatives supporting the effective management of The Bahamas’ ocean area, capacity building, and technical support,” including in areas such as the ocean, coral reefs, seagrass meadows, and mangrove forests.
Private sector financing for conservation and climate-related initiatives are becoming an important tool for countries to advance environmentally-friendly initiatives, and have been seen in other Caribbean countries, including Belize.
Climate Justice
The recent lightning strike on the Barbados National Archives sheds light on the larger-scale effect of climate change on infrastructure and cultural heritage, says the Guardian.
Noelle Young, a climate activist from Bermuda, was interviewed by EcoVybz Environmental Creatives and discussed her experience with Greenpeace in the Sargasso Sea.
EcoVybz Environmental Creatives also spotlights Jervon Sands, a Caribbean climate activist from the Bahamas who focuses on international climate governance.
Participants at COP29 learned about the unique situation faced by farmers in Caribbean countries and how international funding and alliances are helping farmers mitigate the effects of climate change on their livelihoods. (Inter-American Institute for Cooperation on Agriculture - IICA)
Guyanese lawyer Melinda Janki was interviewed by the Pocket Project in partnership with DeSmog at the Climate Consciousness Summit 2024, where she spoke about her legal fights to prevent offshore oil exploration in the Caribbean at the expense of the environment.
The Institute of Marine Affairs brings attention to the issue of coral bleaching across Trinidad and Tobago, undergoing an extensive assessment of the extent of the bleaching.
“The Greenheart Movement stands in solidarity with the Wapichan Wiizi Women's Movement and Indigenous Guyanese everywhere who are calling for an end to mining (esp medium and large scale operations carried out by foreign, non-Indigenous persons) on their traditional and sacred lands.” (Facebook)
Mia Mottley’s former climate advisor, Avinash Persaud breaks down “A 2-minute jargon free video explainer of the key numbers in climate finance being hotly discussed and debated at COP in Baku today.” (LinkedIn)
“It is urgent that the Inter-American Commission on Human Rights (IACHR) strengthen and adapt its working tools to respond to one of the greatest challenges to the enjoyment of human rights in the hemisphere: climate change. For this reason, and aware of the role that the IACHR has been playing in integrating the spheres of state obligations in the face of climate change and human rights, the International Network for Economic, Social and Cultural Rights (ESCR-Net) and a group of civil society organizations, academics and experts have reflected on how the Commission could act in a more timely and efficient manner, taking into account the experiences that other supranational bodies with a similar mandate and comparative jurisprudence.” Check out ESCR-Net’s full discussion paper here.
The Caribbean Climate-Smart Accelerator (CCSA) has launched the Climate Smart Map, “a transformative tool designed to support policy makers in advancing climate resilience and sustainable development across the Caribbean.”
Gender
A new Human Rights Watch report warns of escalating sexual violence in Haiti: “Criminal groups in Haiti are subjecting girls and women to horrific sexual abuse, and survivors have little access to protection and care services because of insufficient resources and difficulties reaching those that exist. Criminal groups have often used sexual violence to instill fear in rival territories. As fighting between criminal groups has decreased, they have expanded the use of sexual violence, which is now widespread.”
“The total cost of Violence Against Women and Girls in Grenada in 2019 amounted to 5.24% of the country’s Gross Domestic Product (GDP) that year,” reports the UN.
A new World Bank report offers an analysis of the gender gap in Jamaica’s disaster risk management (DRM) agenda, and offers recommendations for improving the agenda’s effectiveness and equity.
A commission assessed the situation of Cuban women with regard to the Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW) assessed the situation of women in Cuba and offered key recommendations to be addressed with urgency.
“Dr Chantal Ononaiwu, the newly appointed judge of the Caribbean Court of Justice (CCJ), has praised Jamaica’s crucial role in her rise to the bench of the Caribbean Community’s judicial institution,” reports The Gleaner, noting that “She is the second Jamaican and the third woman to serve on the CCJ.”
The Caribbean and the World
Isaac Newton explores the diplomatic balance of power between China and Taiwan in the Caribbean in News America, arguing that the region’s nations should engage with both countries “while ensuring fair terms that align with national development goals.”
“Edgard Leblanc Fils, a member of Haiti’s transitional presidential council, pushed back against French President Emmanuel Macron’s remarks criticizing the council’s firing of the country’s prime minister earlier this month. He said Macron had insulted an entire nation “living through dark times,” reports the Associated Press.” (via Latin America Daily Briefing)
Public Security
“The number of children recruited by armed groups in Haiti increased by 70 per cent in the last year, according to the latest UNICEF estimates.” (press release)
“Gang violence is surging in Haiti, even as international efforts to aid the country’s beleaguered police forces with a multinational mission — or even a UN peacekeeping mission — falter, reports the Associated Press.” (via Latin America Daily Briefing)
“A Military Approach Alone Won’t Be Enough to Tackle Haiti’s Gangs” (World Politics Review)
“The violence is such that international organizations and embassies are suspending operations and evacuating personnel, reports the New York Times.” (via Latin America Daily Briefing)
Democratic Governance
“In an assembly of civil society representatives, Richard Jones, executive director of the Caribbean Policy Development Centre (CPDC), has called for enhanced whistleblower protections for the nonprofit sector… he highlighted the critical role whistleblowers play in exposing corruption and mismanagement both within nongovernmental organisations (NGOs) and government institutions,” reports The Gleaner.
Housing
Petchary’s Blog brings attention to the Portland Rehabilitation Management Homeless Shelter in Port Antonio, in Jamaica, that offers support to the country’s homeless population.
Culture
The Caribbean Progress Studies Institute highlights the history and philosophy of reggae music, explaining, “Reggae is first and foremost a vehicle of protest. We explore the societal context that forced the hands of the Rastafarians, producing anthems of anti-establishment sentiment that resonated with a growing movement that was finding itself increasingly at odds with a post-colonial government.”
Events
The Diplomatic Academy of the Caribbean (DAOC) hosted a talk on the Bahamas’ United Nations Security Council candidacy. Check it out here.
Opportunities
The Regional MSME Matching Grants Program is offering grants from $5,000 to $25,000 to help upgrade equipment, grow businesses, or innovate in the Blue Economy for businesses in Saint Lucia, Grenada, and Saint Vincent & The Grenadines. More information here.
Hatch is accepting applications for its Women In Ocean Food Innovation Studio, a program aimed at bridging the gender gap in seafood companies and allowing company heads to develop their project’s commercial scalability, technological readiness, and industry fit. More info can be found here.