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BDA headed to Scotland for climate change conference

BDA will participate in COP26 (Photograph supplied)

The Bermuda Business Development Agency will take the campaign to make Bermuda a climate-risk finance capital to Glasgow, Scotland, next week.

BDA chairman Stephen Weinstein, deputy chairman Susan Pateras and chief executive officer David Hart will support the Bermuda delegation at the 26th United Nations Climate Change Conference (COP26).

The UN has called COP26 the world’s “best last chance” to avoid significant climate destruction.

Under the Paris Agreement, countries are required to update their national climate action plans every five years, including at COP26. A key aim of COP26 is to increase these targets to reach net-zero carbon emissions by the middle of the century.

“Bermuda is uniquely well equipped to help address the pressing global challenge of developing solutions and financing mechanisms to mitigate the impacts of climate risk,” Mr Weinstein said.

He said that the BDA’s purpose at COP26 is to tell the Bermuda story and strategy, to invite investors, entrepreneurs and policymakers to collaborate with Bermuda, and to foster global partnerships to help to bring this vision into reality.

Mr Hart said that the BDA was proud to support the Government’s efforts to showcase Bermuda’s work in the environmental protection policy space.

“Bermuda’s legacy of conservation leadership can be traced back over four centuries, particularly in the area of ocean conservation, and Bermuda’s business community is poised to assist with current and future efforts to reduce risk and promote transition solutions,” Mr Hart said.

The BDA will host an invite-only luncheon for leaders in the climate space at the ICE Hub of COP26 on November 6, directly after a panel discussion led by Bermuda’s Deputy Premier and Minister of Home Affairs, Walter Roban, entitled “Our Vision for Healthy Oceans”.

The purpose of the talk is to raise awareness about how the British Overseas Territories are taking action against climate change. The delegation has additional meetings scheduled in London on November 8, some of which were organised in partnership with the Government of Bermuda’s London office.

Delegates to COP26 interested in booking a meeting with the Bermuda delegation, can visit their COP26 landing page.

Last month, the BDA held a climate-risk roadshow in New York City to highlight Bermuda’s core competitive advantages as a capital for climate-risk finance and a hub for climate-tech innovation.

“We believe it is important to share directly with leading players, and Government’s recent climate and ESG commitments,” Curtis Dickinson, Minister of Finance, said.

He predicted that Bermuda will emerge as a capital for climate-risk finance and a hub for climate-tech innovation.

“There are numerous reasons why Bermuda is the ideal location in which to domicile and operate global business-to-business financial services firms,” Mr Dickinson said.

He said that Bermuda’s commitment to transparency and quality business operations is unwavering.

COP26 runs from November 1 to 12.

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Published October 28, 2021 at 7:53 am (Updated October 28, 2021 at 7:53 am)

BDA headed to Scotland for climate change conference

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