The Bahamas’ Role As A Carbon Sink

NASSAU, BAHAMAS – With The Bahamas considering entering into carbon markets, you may still be wondering what they are, and how carbon is traded.

Rising sea levels and global temperatures have put The Bahamas in a unique situation, as the world eyes the nation’s multiple carbon sinks as a way to cut greenhouse gas emissions.

Deputy Director of The Nature Conservancy Shenque Smith says The Bahamas is rich in carbon sinks but only if we protect them.

Those resources hold significant potential. Potential that The Bahamas is recognizing and the world is taking note of.

The Bahamas has made commitments under the United Nations Climate Change Convention. That convention includes carbon markets and how they can be used to mitigate climate change.

However, the concept and value of carbon credits may still be a bit tricky.

While the government hopes that carbon markets will reap great monetary rewards, Smith and other environmentalists hope the money goes back to where it is really needed.

Carbon markets have been around for some time.

With the tabling of legislation in the House of Assembly, the government set out a framework for how The Bahamas conducts business in that space.