The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

The Bahamas no longer has “the luxury of making grand speeches” that are not backed by action, a Cabinet minister has conceded, as it faces “falling further behind” if sustainability does not become a reality.

Senator Michael Halkitis, minister of economic affairs, told the Sustainable Grand Bahama conference on Saturday that this nation must stop talking a good game and transform words and promises into on-the-ground realities that deliver meaningful benefits for its people.

He added: “We are at a pivotal moment in our development as a nation. We do not have the luxury of making grand speeches and throwing about big ideas without putting action behind them any more.

“If we do not take aggressive action to make this sustainable future a reality, we will face the prospect of falling even further behind global leaders, perhaps too far behind to catch up within our lifetime.”

Such action requires The Bahamas to “embrace sustainable technologies and innovation”, with Mr Halkitis adding: “There are emerging industries for us here in The Bahamas that can provide jobs and ownership opportunities at all levels. The Davis administration has pledged to make investments in renewable energy and sustainable initiatives related to the green and blue economies.

“Already, we are seeing movement on that front with farming, ocean and coastal initiatives that are competitive and innovative on a global level. This is priority number one for us. While we pursue these projects that, in a sense, have come to define the common understanding of sustainability, we must also reframe how we think about sustainable development.

“Sure, solar panel initiatives and AI-powered (artificial intelligence) farming initiatives are a great way to make steps towards a sustainable future, but we must also ensure that sustainability is woven into our general approach to development.”

Highlighting the importance of small and medium-sized enterprises (SMEs), together with real estate, infrastructure and resorts, having “sustainability embedded within their DNA,” Mr Halkitis said: “A great example of this recently occurred with Grand Bahama’s northern neighbor, Abaco. The Government formally opened the Angel Fish Creek Bridge, connecting Great and Little Abaco, a few weeks ago.

“This bridge is the largest single span structure in The Bahamas and has a steel truss, making it erosion resistant and far more capable than the previous bridge of withstanding the kinds of storms and storm surges expected more frequently with climate change. The bridge also has solar lighting, minimising its impact on the power grid. For the first time in over 70 years, the new bridge allows for a free flow of water between the two islands.

“As a result of the free flow of water, local reports are indicating that the water has changed from a stagnant, murky green to a clear turquoise. Fisherman are saying that they are seeing a variety of fish and other sea life in the immediate area for the first time in their lifetime – all because this was an initiative that sought to meet transportation needs while also fitting into our model of sustainability and climate resilience.”

Mr Halkitis continued: “The Government believes that sustainability, pursued in an earnest and practical way, has the potential to transform our society, our government and our economy in much the same way that the Internet and digital technologies have transformed private sector operations and practices. It is time for a sustainable transformation.

“This transformation will come in the form of new industries; new jobs; healthier, cleaner environments; renewable energy; greater investments to protect our coastlines and industries from the impact of climate change; and the diversification of the Bahamian economy for greater resilience. In the pipeline, we have a number of initiatives that are directly or indirectly related to the innovation and adaptation needed to continue to take this country in the right direction.

“At the top of the agenda is the continued digitalisation of government processes for increased efficiency and effectiveness. This includes investments in digital communications and operational systems, as well as digital file management and the use of automation to speed up internal and outward facing processes. Digitalisation also includes expanded access to government services and greater transparency,” the minister said.

“One of the most promising digital innovations that we must leverage for mainstream use is our digital currency, the world’s first Central Bank digital currency, the Sand Dollar. This will be a godsend to many who lack access to traditional financial and banking services, especially in Family Islands that do not have proper access to banking services or may even not have a bank present on the island at all.”