The Tribune

By EARYEL BOWLEG

Tribune Staff Reporter

ebowleg@tribunemedia.net

BUSINESSES and households participating in new government-approved green initiatives could qualify for cost-saving incentives — but risk stiff penalties if they fail to meet strict emissions reporting requirements under new regulations tabled in the House of Assembly yesterday.

The Emissions Reduction Initiatives and Incentives Regulations, 2025 require all participants in government-approved emissions reduction efforts to file detailed annual reports — or risk fines of up to $10,000 and the loss of eligibility for green incentives.

The new rules are a part of the country’s strategy to track emissions and hold entities accountable as The Bahamas pushes to slash national greenhouse gas emissions by 30 percent by 2030.

The regulations create a new National Emissions Registry, which will track emissions data, record permits, and assess whether the country meets its stated targets. They are the first to be enacted under the Climate Change and Carbon Market Initiatives Act, passed in 2022.

Participation in the emissions reduction programme is mostly voluntary. People, businesses, and nonprofit entities can apply to launch or join projects to cut emissions. Permit fees range from $75 for residential applicants to $300 for commercial entities, and applicants must submit proposals showing how their projects reduce emissions, support national climate goals, and deliver benefits to local communities.

However, the regulations also introduce mandatory obligations for certain sectors. Entities operating in industries identified in The Bahamas’ Nationally Determined Contributions — such as energy, agriculture, transportation, and waste — must register with the registry and submit annual emissions data. Those who fail to file the required information by the last Friday in February face a $10,000 fine and an additional $1,000 for each month they remain non-compliant.

Once a participant receives a permit, they must submit detailed annual reports by March 31. Failure to do so can lead to cancellation of the permit and penalties equivalent to the value of any incentives received — or up to $10,000.

While the regulations give the prime minister the authority to create a regime of incentives, the specific benefits are not spelt out in the regulations. Each incentive must be established by an Order and include details about its type, duration, value, and eligibility requirements. During a communication in the House of Assembly yesterday, Prime Minister Philip “Brave” Davis suggested that these incentives may include support for adopting energy-saving technologies and lead to lower utility bills.

“It is intended that the benefits of these emission reduction initiatives and incentives will allow for cost savings on utilities through the use of energy saving and innovative technologies,” he said.

He also emphasised that success depends on broad public participation.

“There is no way that we meet our goals without full buy-in from the public,” he said. “Our objective must be to make reducing emissions as easy and cost-effective as possible.”

The government says it will publicly report on national emissions trends annually, using data submitted to the registry. The goal, he said, is to show measurable progress toward emission reductions while encouraging the adoption of more sustainable technologies and practices.