Watson: Bahamas will be cutting-edge in carbon-neutral agenda
NASSAU, BAHAMAS — The government’s legislative agenda in the new year will focus on several key policy initiatives promised by the Progressive Liberal Party (PLP) in the lead-up to the general election and outlined in the Speech from the Throne.
Press Secretary Clint Watson yesterday outlined several key initiatives the government will seek to address throughout next year.
These include the sovereign wealth fund legislation; carbon credit regulation; legislation to regulate the Bahamas Agriculture and Marine Science Institute (BAMSI) and other agriculture developments; financial management amendments; cannabis legislation; and anti-corruption reform.
Watson explained that legislation for the sovereign wealth fund would allow for the management of Crown land and other fixed government resources, as well as government-owned shares in private companies such as BTC, Aliv and APD.
He noted that these will be professionally-managed securities, along with revenues and royalties from natural resources.
He indicated that the government will seek to implement legislation regarding the regulation of carbon credits and other environmental resources.
“The Bahamas is a unique country in that our vast ecological diversity creates a unique position in the world as far as carbon management is concerned,” Watson said.
“This is important as many countries and companies have pledged to be carbon neutral by 2030.
“The Bahamas will be cutting-edge and progressive in this agenda.”
The press secretary also pointed to legislation focused on BAMSI and other agriculture developments to better empower local farmers throughout The Bahamas and amendments to the country’s financial management.
In the upcoming year, the Davis administration will also seek to put in place a “world-class” regulatory regime for the cannabis industry that will allow for the exploitation of the industry for Bahamian economic diversification.
Watson said this will include industrial hemp, which will be a fundamental aspect of the agribusiness agenda of the government.
Lastly, he noted that the government will also review anti-corruption legislation, consistent with its blueprint for change to ensure full faith and confidence in the administration of government.
The government’s Speech from The Throne outlined several key aspects of the Davis administration’s mandate and a commitment to executing good governance, established on the principles of transparency, integrity and accountability.
Since coming to office, the Davis administration has already fulfilled several campaign promises, including the removal of the curfew and state of emergency; the end of travel health visa for Bahamians domestically and internationally; a reduction in value-added tax (VAT) to 10 percent; and the Merchant Shipping Bill.
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