EL-SHEIKH, EGYPT — Prime Minister Philip Davis last week urged government leaders to ‘act quickly to address the systemic risk of climate change’ as he addressed the United Nations climate conference COP 27.
“I live in the most beautiful country on earth, but right now, even as I speak, Bahamians are mobilizing to prepare for the impact of yet another powerful storm, Tropical Storm Nicole.
“So I come here with a simple request: What we need most at this conference is to confront the radical truth.
“Big, ambitious goals are important – but not if we use aspirations to obscure reality. The goal to limit global warming to 1.5 degrees, is on life support,” Davis said.
The prime minister added that working together to tackle the climate change issue is key to cultivating a better future for all countries and the planet as a whole.
“And I say that we have come, because each nation here, acting in its own, enlightened self-interest, knows, in a most profound way, that we need each other to make this work,” he said.
As the world recovers from a number of health crises and socio-economic issues, the Prime Minister noted that these should not be used as an excuse not to tackle the problems that will greatly impact the human race.
Davis continued: “The realities of war, economic headwinds, the hangover from the pandemic, and competition among world powers, cannot be used as justification not to confront these imminent dangers.
“We are entering a new climate era that will drive extreme geopolitical and economic instability. Statements without binding commitments or enforcement mechanisms have been used again and again as a way to postpone real action.
“Yes, the world’s wealthiest carbon polluters should pay for the very extensive loss and damage caused by their emissions.”
The message to the countries which produce the greatest carbon emissions was to ‘get real’ something Davis said would have to be done not out of self-interest, but in the interest of stability and the long-term environmental sustainability of nations.
“What is it worth to you, to prevent millions of climate refugees, from turning into tens of millions, and then hundreds of millions, putting pressure on borders and security and political systems across the world?” Davis said.
“I’m not telling you to overhaul the World Bank for this new climate era because it is the right thing to do.
“I’m telling you to get smart and act quickly to address the systemic risk of climate change. Multilateral banks must play a crucial role in scaling up financing options that will provide real solutions. […] So, we need to work together to transition the world to clean energy.”
The prime minister pointed to blue carbon credits as a sustainable action in contributing to a potential solution for the effects of climate change that are greatly impacting The Bahamas.
Davis said: “We know we have what it takes to provide the kind of leadership and innovation that contribute to meaningful solutions. Our mangroves, seagrasses, and salt marshes are critical carbon sink.
“While others were talking, we took action and passed innovative new legislation to deal with Blue Carbon. We created a regulatory framework for dealing and trading in carbon credits. Other countries are already considering adopting our model.
“And just this past Sunday, we agreed in principle with the IMF, to partner together, among other things, to determine how carbon credits can be used productively, as a new asset class,” Davis said.
He termed the move as ‘real, life-changing action’ while affirming that the country will continue to agitate for larger nations to support economically sustainable changes which can help the planet and the country in the long term.
“We in The Bahamas are not sitting still. We will not flinch from confronting the hard truth. We will continue to offer our leadership and we will continue our drive for innovation and ingenuity,” he said.
“Whoever you are, wherever you are, bring your climate solutions to The Bahamas. Help us convert our front-line vulnerabilities into cutting-edge solutions for all, because we refuse to lose hope. We will not give up. We have no other choice.”
