September 10, 2026 – The Bahamas Protected Areas Fund (BPAF) has achieved yet another major international milestone becoming the first, and currently the only, locally based Bahamian organization to be formally assessed and endorsed by the Green Climate Fund (GCF) to support the delivery of GCF Readiness projects.
The endorsement follows BPAF’s successful completion of the GCF’s Financial Management Capacity Assessment (FMCA), a rigorous review of the organization’s financial management systems and its capacity to administer resources responsibly.
As a result, BPAF is now eligible to receive, manage, implement, and report on GCF Readiness grants. This milestone also creates a stronger pathway for climate-finance resources to be managed within The Bahamas while building lasting local expertise and institutional capacity.
The GCF is the world’s largest dedicated climate fund and supports developing countries in pursuing low-emission, climate-resilient development. Its Readiness and Preparatory Support Programme helps countries strengthen the institutions, governance systems and technical capacity required to plan for, access and effectively manage climate finance.
Karen Panton, Executive Director of BPAF noted that, “This recognition, which comes after a year of strategic planning and capacity building, is an important milestone for BPAF and for The Bahamas. It affirms the strength of our financial architecture, board governance, and our ability to serve as a trusted national partner in advancing climate action. More importantly, it opens new opportunities to connect international climate finance with the needs and priorities of Bahamian communities”.
For BPAF, the endorsement strengthens the Fund’s standing as an expert financial manager in climate and conservation finance, a trusted intermediary for the Government, and a credible partner for donors seeking to work through a Bahamian organization whose financial systems have been assessed by the GCF.
It also allows more of the knowledge, systems, and experience associated with international climate finance to be developed and retained within the country. This is particularly important for The Bahamas, where climate change threatens coastal communities, freshwater resources, livelihoods and critical ecosystems.
Since its beginning in 2014, BPAF has demonstrated its capacity to direct resources towards national environmental priorities. BPAF successfully secured funding from the German Federal Ministry for Economic Cooperation and Development through the German Development Bank and administered by the Caribbean Biodiversity Fund for critical assessments and recovery in the wake of Hurricane Dorian. The funding, totaling $1.4m, supported initiatives on Grand Bahama and Abaco including mangrove assessments and recovery, marine mammal research, marine protected-area management and enforcement and the strengthening of forests through groundwater restoration. BPAF signed a conservation agreement with the Government of The Bahamas and The Nature Conservancy in 2024, to receive and manage the conservation funding of $124m over 15 years.
Rochelle Newbold, Director of the Climate Change & Environmental Advisory Unit at the Office of the Prime Minister says, “The Bahamas having passed the age of 50 as an independent country, continues to exhibit global leadership and a clear ability to govern its own resources. We are all very proud that BPAF has achieved this honour, and has been internationally recognized as having the ability to do so. It is indeed a great achievement for the country as we no longer need another country or a foreign entity to act as proxy for The Bahamas in its management of international environmental funds.”
The GCF’s endorsement of BPAF helps lay the foundation for a more nationally driven approach to climate action where Bahamian institutions are not only beneficiaries of international support but are also equipped to create, manage, and account for climate-finance initiatives.
About the Bahamas Protected Areas Fund
Established in 2014 by an Act of Parliament, the Bahamas Protected Areas Fund (BPAF) provides sustainable financing for biodiversity conservation and climate adaptation across The Bahamas. The Fund serves as the sustainable finance mechanism for the Bahamas National Protected Area System, supporting environmental implementation, research, education and policy initiatives.
To date, the Fund has issued more than $3.9m in grant funds to government departments and local NGOs.