The Bahamas is urgently warning that it lacks the financial resources to address the escalating climate risks threatening its islands. Rising sea levels, stronger hurricanes, and increased flooding are jeopardizing the nation’s key industries, including tourism and agriculture. According to the Intergovernmental Panel on Climate Change (IPCC)’s latest report, released in March 2023, the Caribbean region is among the most vulnerable to climate change, with small island nations facing the prospect of severe economic losses and displacement. The IPCC projects that global warming could exceed 1.5°C above pre-industrial levels by 2030, leading to more intense storms and rising seas, which could cause losses of up to 10% of GDP in some island nations by mid-century.
Despite these growing threats, the Bahamas is struggling to secure the necessary funds for climate adaptation and resilience efforts. The IPCC’s 2023 report emphasizes that climate financing for vulnerable countries is “substantially insufficient,” with the gap between required funds and available resources widening. The Bahamas is calling for wealthier nations to fulfill their commitments under the Paris Agreement and provide the financial support needed to protect vulnerable communities and infrastructure from the devastating effects of climate change. Without this support, experts warn the country could face irreversible economic and social damage as the climate crisis intensifies. More