The Government of Bermuda was pleased to be represented at the COP28 summit in Dubai, which took place from November 30 to December 12, 2023.

The event was attended, inter alia, by the Premier, The Hon. David E. Burt JP, MP, and Deputy Premier, The Hon. Walter Roban JP, MP. The seniority of the delegation reflected Bermuda’s strong commitment to becoming the climate risk capital of the world, its key role in oceanic conservation, and its leadership on Net Zero initiatives.

In support of this, the Government published a White Paper outlining its approach.

The publication collectively emphasizes Bermuda’s key areas of focus, which include:

Ocean stewardship: As the custodian of one of the largest maritime zones in the world (spanning approximately 460,000 sq km), Bermuda has designated a fifth of this area as an Exclusive Economic Zone (EEZ), fully protected from human activity. Bermuda also serves as the lead trustee among a coalition of nations safeguarding the Sargasso Sea, a vital habitat for marine conservation and spawning.

Climate action and emissions targets: Bermuda is committed to matching or exceeding the achievements of leading Paris Agreement signatories. Bermuda has already achieved 100% electrification of our public bus fleet and we are on track to reduce our carbon footprint by 85% by 2035, with a goal of reaching Net Zero by 2050.

Renewable energy deployment: Over the past three years, Bermuda has installed 15MW of solar capacity, more than many significantly larger Paris signatory nations, demonstrating our commitment to transitioning to clean energy.

Leadership in climate risk finance: Bermuda aims to become the world’s climate risk capital, building on our status as the global underwriting hub for approximately one-third of the world’s climate catastrophe insurance.

Minister Roban said: “The environment, particularly in its maritime aspect, is at the heart of national life and economic policy.  We welcome COP28 as a further opportunity to share and to build on our unique and vital contribution to the planet in this area.

Our world leading insurance and financial services sector plays an ever-growing part in providing security and mitigation for those most affected by climate change.

As the proverb goes, “we inherit from our parents, but are borrowing from our children”.  The time for action is now.”

The paper and a related video can be found using the links below:

White Paper: https://www.gov.bm/sites/default/files/2023-11/The%20Bermuda%20Difference%20-%20COP28.pdf

Video: https://www.youtube.com/watch?v=qMAaaAf_ETQ