Revolutionizing Climate Action: PERL National Carbon Registry Launches in the Bahamas
A Groundbreaking Step Towards Transparent and Effective Climate Solutions
As the world gathers at COP28 in Dubai to address the pressing challenges of climate change, the Commonwealth of The Bahamas stands at the forefront of environmental stewardship. In a momentous announcement, The Hon. Philip E.B. Davis, KC, MP, Prime Minister of the Commonwealth of The Bahamas, revealed the Bahamas National Emission Registry, powered by PERL.eco.
Building a Sustainable Future
The Bahamas, known for its pristine islands and vulnerable ecosystems, has taken a decisive step toward a sustainable future. With firsthand experience of the severe impacts of climate change, the government is championing the development of a National Emissions and Bio Asset Registry. Joining the ranks of nations like Singapore, Ghana, Jordan, Chile, and Vanuatu, The Bahamas aims to meet its Nationally Determined Contributions (NDCs) under the Paris Climate Agreement.
A Partnership for Progress
The Bahamas government has entrusted global carbon project developer Bioeconomy and blockchain technology developer PERL.eco with the crucial task of delivering this groundbreaking registry. In a strategic collaboration set under a comprehensive five-year working contract, Bioeconomy’s expertise in carbon markets and biodiversity conservation, combined with PERL.eco’s cutting-edge blockchain technology, forms an interoperable platform ready to develop The Bahamas climate mitigation outcomes and trade them with other countries. This platform will register all carbon credits issued or recognized by The Bahamas, ensuring transparency, accountability, and the prevention of double counting.
Beyond Carbon: Bio Assets Component
Going beyond carbon, the Bahamas National Emissions and Bio Asset Registry will also feature a Bio Assets component. This secure online database will support natural asset accounting, fostering the commercialization and benefits sharing of The Bahamas’ rich biodiversity.
Prime Minister Philip Davis emphasizes the significance of this initiative: “As we celebrate our 50th independence anniversary, we must look at the next 50 years and ask what legacy we will leave for future generations.” This forward-thinking project builds on The Bahamas’ pioneering efforts in developing Blue Carbon Credits, showcasing the nation’s commitment to meeting Paris Agreement goals.
Global Recognition and Support
Dorjee Sun, CEO of Bioeconomy, applauds The Bahamas’ progressive initiative, stating: “The Bahamas’ National Emissions and Bio Asset Registry represents the type of progressive initiative we need if we are to have any hope of responding to the challenge presented by climate change.” This sentiment is echoed by Garry Walsh, PERL.eco Project Manager, who emphasizes the powerful role of blockchain technologies in enabling climate change response infrastructure.
PERL.eco’s Planetary Emissions Reduction Ledger
At the heart of this transformative project lies PERL.eco’s Planetary Emissions Reduction Ledger, a blockchain-based ledger designed to prevent double counting, ensure permanence to carbon credit transactions, and support the Bahamas in developing a best-in-class environmental technology platform.
Looking Ahead
As The Bahamas takes this monumental step in the fight against climate change, it serves as an inspiration for other nations to follow suit. The Bahamas National Emission Registry is not just a local initiative; it’s a global beacon of hope, demonstrating that through collaboration, innovative technologies, and environmental consciousness, we can pave the way for a sustainable and resilient future.
