Genesis Fund Services Limited

Endowed with world's largest seagrass meadows, Bahamas to pioneer blue and green carbon finance: In a groundbreaking move, The Bahamas is leveraging its vast marine and coastal ecosystems to position itself as a leader in the burgeoning field of Green Finance. As revealed in a recent Opalesque Roundtable discussion, the country is on track to become a significant net exporter of blue and green carbon credits, tapping into substantial investor interest and setting new standards for sustainable finance. The full transcript of the 2024 Opalesque Bahamas Roundtable can be downloaded here: https://lnkd.in/d-Ctq3RB Harnessing Natural Capital Antoine Bastian, CEO of Genesis Fund Services Limited, highlighted The Bahamas' unique position in the carbon finance landscape. "The Bahamas has the world's largest seagrass meadows, which accounts for approximately 25% of the world's seagrass," he noted. This natural asset, along with the country's extensive mangrove forests and coral reefs, positions The Bahamas as a potential powerhouse in the carbon credit market. Monetizing Blue Carbon The country is moving swiftly to establish its national carbon trading regime. A carbon credits registrar has been set up, along with an independent agency, Carbon Management Ltd, responsible for monetizing the country's carbon assets. Bastian revealed that the initial focus is on blue carbon resources, primarily oceanic and marine carbon sinks like seagrass meadows. "We're partnering with leading scientific agencies and research institutions to complete the comprehensive mapping, quantification, and ongoing monitoring of those resources," he explained. The goal is ambitious but achievable: to generate and sell the first batches of Bahamian blue carbon credits by the second quarter of 2025. Meeting Investor Interest The Bahamas' foray into carbon finance has not gone unnoticed by the investment community. Delphino Gilbert Cassar (“Gil”) Gilbert Cassar, Head of Business Development & Fintech at Equity Bank Limited, noted a "massive surge of interest from major Wall Street, global firms, family offices and institutional investors who are keen to participate." This interest extends beyond mere profit-seeking. As Paul Winder of Deltec Bank and Trust pointed out, there's a significant intergenerational wealth transfer occurring, with new investors increasingly focused on "saving the planet" and aligning their investments with values around sustainability and social impact. A Holistic Approach to Sustainable Development What sets The Bahamas apart is its holistic approach to carbon finance. The country isn't just looking to profit from its natural resources; it's creating a virtuous cycle of conservation and development. Gilbert Cassar emphasized that the country is "creating a gold standard for ESG investing, one that is anchored in quantifiable, verifiable, and governable metrics of environmental and social impact."

Today, our sponsors came together to discuss the topic of “The Bahamas Securities Industry: Guided by Regulatory Excellence, Excelling in Innovation” at the Opalesque Roundtable. Opalesque Roundtables, hosted by Matthias Knab are private, invitation-only, closed-door meetings that gets transcribed and published in a Roundtable Report. This year, our panelists are Antoine Bastian, CEO of Genesis Fund Services Limited, Iyandra S., COO of Quantfury, Paul Winder, Global Head of Wealth Planning of Deltec Bank & Trust Limited, and Delphino Gilbert Cassar (“Gil”), Head of Business Development and Fintech of Equity Bank Bahamas Limited.