ANTALYA, Türkiye, 11 November 2026: Prime Minister the Hon. Philip Davis, KC, MP, today announced an additional US$75 million to advance Phase Two of The Bahamas Blue Carbon Programme, as the Government works to protect the country’s vast seagrass meadows and create new economic opportunities for Bahamians.
Speaking at COP31, Prime Minister Davis outlined how The Bahamas intends to use one of its greatest natural assets to attract responsible investment, strengthen marine conservation and open new opportunities for Bahamians in the growing blue economy.
The Bahamas is home to the largest seagrass meadows of any nation, covering approximately 53,000 square kilometres. These meadows draw carbon down and store it in the seabed, shelter the fisheries that feed Bahamian families and soften waves before they reach the shore.
The Prime Minister said the programme must become “far more than a carbon project”, developing Bahamian expertise and creating opportunities at home. He said island communities, Government departments and Bahamian NGOs that meet high standards must be part of the work and share in what it achieves.
“A young Bahamian studying marine science, data science or finance should be able to see a career in the blue economy in The Bahamas,” he said.
The additional funding builds on the US$25 million the Government invested in the first phase, which included mapping the seagrass meadows with satellite data and LiDAR, verified in the water by Bahamian field teams.
The next phase will move the programme “from science to implementation”, funding measurement, reporting and verification. No carbon credits have yet been authorised, issued or sold.
The Bahamas will also launch the Bahamas Blue Economy Institute, bringing international experts together with Bahamian professionals to advance marine research and conservation. The Institute aims to set a gold standard for the transparent stewardship of any proceeds, which would sustain long-term work on the country’s seagrass and marine biodiversity.
“Self-reliance must also reach our people, or it will mean very little,” he said.
The Prime Minister invited governments, scientists and responsible investors to partner with The Bahamas, emphasising that the country has already written its own laws and is building its own science.
“I have never accepted that our vulnerability should be how the world views countries like ours,” he said. “We come as a country with an extraordinary natural asset. A Government that has invested in understanding and protecting it, and with an invitation to credible partners to collaborate with us.”
The Prime Minister stressed that conservation comes first, and that The Bahamas will take part only in internationally verified carbon markets.
“We must take care of what takes care of us,” he said, reflecting on the generations of Bahamians whose livelihoods have depended on the sea.
ENDS