The Bahamas and the Road to Sustainable Finance
21 October 2020 | Mitigation
Recently, Factor Ideas for change has arrived in The Bahamas with two new projects. Again, the Caribbean islands show their ambition towards sustainability with the plans "Accreditation of a Direct Access Entity in the Bahamas" and "Private Sector Participation, Investment and Financing in the Bahamas".
Both projects are part of the Government's objectives to strengthen its commitment to the Green Climate Fund (GCF) and to the development of the private sector, which has great potential to contribute to the sustainable and economic growth of the country.
For the accreditation project, the Ministry of Environment and Housing of The Bahamas has collaborated with the Caribbean Community Climate Change Centre (CCCCC) in the development of the plan for "Preparatory and Preparatory Support for the GCF in The Bahamas (Phase II)". Factor will provide technical support in obtaining accreditation as a Direct Access Entity (DAE) to the GCF, this accreditation will allow the Caribbean country to access GCF funds, and therefore enable them to start the implementation of climate change related projects that will support the transformation and development of the country towards a low emission and resilient economy.
On the other hand, to fulfil the second objective and the project of "Consulting for the participation, investments and financing of the private sector". The Government of the Bahamas and the CCCCC have requested Factor's support in engaging and mobilizing the private sector. This plan will be developed in three phases, diagnosis and analysis of barriers; convening a forum for public-private dialogue; and the development of a plan to strengthen public-private partnership and the capacity to design and implement projects together. Finally, a list of projects proposed by the private sector will be identified and prioritized, for which conceptual notes will be developed and then presented to the GCF.
If you have any questions about these new projects, please do not hesitate to contact our Senior Consultant and Climate Finance expert Susana Gonzalez (firstname.lastname@example.org).
Factor Ideas for change
Factor has more than 15 years of experience offering technical consulting services in the areas of climate change adaptation and mitigation, carbon footprint analysis, sustainability, circular economy, renewable energy and carbon markets, amongst other things, undertaken on behalf of governments and international organizations, as well as for over 400 companies, with more than 1,100 projects undertaken within 40+ countries.