The Bahamas collaborates with the UAE’s Blue Carbon to enhance resilience and promote climate initiatives

On Friday at COP28 in Dubai, the Government of the Bahamas and Blue Carbon formally inked a Memorandum of Understanding (MoU), aimed at exploring carbon credit potentials derived from transformative projects within the Bahamas. In the midst of global climate action discussions, this signing marks a pivotal step toward collaborative endeavors in line with the objectives of the Paris Agreement. The primary focus of this initiative is to curtail carbon emissions and foster sustainable development on a broader scale.

This MoU signifies their partnership’s intent to delve into and promote carbon credit facilitation stemming from transformative projects within The Bahamas. Blue Carbon, an environmental solutions provider based in the UAE, and The Bahamian government forge an innovative collaboration during COP28, aiming to fortify climate resilience and advance carbon credit initiatives. The MoU outlines a strategic alliance between Blue Carbon and the Bahamian government, specifically targeting efforts related to blue carbon. These joint efforts are directed towards the conservation, restoration, and enhancement of seagrass ecosystems, biodiversity, and the preservation of coral reefs. The Bahamas, historically affected by hurricanes and severe weather events, faces an urgent need for solutions to address the detrimental impacts on marine life, exacerbated by climate change stressors, such as increased sea surface temperatures causing coral bleaching in the nation’s reefs.

The partnership also aims to deliver adaptation benefits to local communities and the environment, bolstering resilience and reducing vulnerability to climate change. Concentrating on blue carbon initiatives, the collaboration aims to shield marine ecosystems from the impacts of hurricanes and extreme weather occurrences.

Additionally, the MoU facilitates The Bahamas’ engagement in opportunities offered by Article 6 carbon markets. Blue Carbon will collaborate with the government to establish Article 6 infrastructure in compliance with UNFCCC guidelines. This initiative will focus on identifying opportunities for creating credits compliant with Article 6, specifically involving Internationally Transferred Mitigation Outcomes (ITMOs). These ITMOs, acknowledged as high-integrity carbon credits within the Paris Agreement, denote quantifiable emissions reductions adhering to stringent criteria, ensuring their environmental integrity and credibility.

The signing ceremony was graced by representatives from Blue Carbon, the Government of The Bahamas, and esteemed guests, highlighting the collaborative effort essential for addressing global climate change challenges.