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[]
[null,"Prepared By:","Contributors:"]
[null,"McKinney, Bancroft & Hughes","Gweneth Diane Stewart"]
[null,null,"Adrienne Bellot"]
[null,null,"DeVaughn Rolle"]
[]
["ESG Latin America & the Caribbean Guide 2024 | Charting Sustainable Futures"]
[]
["Report Generated: 5/2/2025"]
[]
["View your report results on next tab"]

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["Question","Bahamas"]
["Social"]
["ESG Regulation related to stakeholder well-being and social impact."," Laws/regulations concerning stakeholder well-being and social impact include:  \n \n The Persons with Disabilities (Equal Opportunities) Act, 2014 \n The Child Protection Act, Ch. 132 \n The Education Act, Ch. 146 \n The Employment Act, Ch. 321A \n "]
["ESG Regulation concerning non-discrimination."," Laws/regulations concerning non-discrimination include:  \n \n The Constitution The Constitution is the supreme law of The Bahamas and, subject to the provisions of the Constitution if any other law is inconsistent with the Constitution , the Constitution shall prevail and the other law shall, to the extent of the inconsistency, be void ( Article 2 ). Article 26 of the Constitution provides for protection from discrimination on specific grounds. Article 26 provides: \"26. (1) Subject to the provisions of paragraphs (4), (5) and (9) of this Article, no law shall make any provision which is discriminatory either of itself or in its effect. (2) Subject to the provisions of paragraphs (6), (9) and (10) of this Article , no person shall be treated in a discriminatory manner by any person acting by virtue of any written law or in the performance of the functions of any public office or any public authority. (3) In this Article , the expression “discriminatory” means affording different treatment to different persons attributable wholly or mainly to their respective descriptions by race, place of origin, political opinions, color or creed whereby persons of one such description are subjected to disabilities or restrictions to which persons of another such description are not made subject or are accorded privileges or advantages which are not accorded to persons of another such description...\" \n The Employment Act, Ch. 321A The Employment Act. section 6 provides a non-discrimination clause as follows: \"6. No employer or person acting on behalf of an employer shall discriminate against an employee or applicant for employment on the basis of race, creed, sex, marital status, political opinion, age or HIV/Aids by — (a) refusing to offer employment to an applicant for employment or not affording the employee access to opportunities for promotion, training or other benefits, or by dismissing or subjecting the employee to other detriment solely because of his or her race, creed, sex, marital status, political opinion, age or HIV/Aids; (b) paying him at a rate of pay less than the rate of pay of another employee, for substantially the same kind of work or for work of equal value performed in the same establishment, the performance of which requires substantially the same skill, effort and responsibility and which is performed under similar working conditions except where such payment is made pursuant to seniority, merit, earnings by quantity or quality of production or a differential based on any factor other than race, creed, sex, marital status, political opinion, age or HIV/Aids; (c) pre-screening for HIV status: Provided that this section does not affect any other law or contract term which stipulates a retirement age.\" Section 7 of the Employment Act also provides that section 6 shall apply mutatis mutandis with respect to disabled employees unless the employer can show that the job requirements relied on as grounds for hiring the disabled person at a lesser rate of pay are reasonable or the disabled person cannot be accommodated without undue hardship. \n The Persons with Disabilities (Equal Opportunities) Act, 2014 The Persons with Disabilities (Equal Opportunities) Act, section 2 defines \"discrimination on the basis of disability\" as \"any distinction, exclusion or restriction on the basis of disability which has the purpose or effect of impairing or eliminating the recognition, enjoyment or exercise, on an equal basis with others, of all human rights and fundamental freedoms in the political, economic, social, cultural, civil or any other field, including all forms of discrimination such as denial of reasonable accommodation;\" Further, section 16 of the Persons with Disabilities (Equal Opportunities) Act prohibits discrimination by employers. It provides as follows: \"16 (1) Subject to subsection (2), no employer shall discriminate against persons with disabilities in relation to — (a) the advertisement of employment; (b) the recruitment for employment; (c) the creation, classification or abolition of posts; (d) the determination or allocation of wages, salaries, pensions, accommodation, leave or other such benefits; (e) the choice of persons for posts, training, advancement, apprenticeships, transfer or promotion; (f) the provisions of facilities related to or connected with employment; or (g) any other matter related to employment. (2) Notwithstanding subsection (1), an employer shall be deemed not to have discriminated against a person with a disability if — (a) the act or omission alleged to constitute the discrimination was not wholly or mainly attributable to the disability of the said person; (b) the disability in question was a relevant consideration in relation to the particular requirements of the type of employment concerned; or (c) special facilities or modifications, whether physical, administrative or otherwise, are required at the workplace to accommodate the person with a disability, which the employer cannot reasonably be expected to provide. (3) A person with a disability who feels discriminated against by an employer contrary to the Act , may complain to the Commission.\" The Education Act makes provision for all children of mandatory school age to attend school. \n The Education Act, Ch. 46; Status of Children Act, 2002 The Status of Children Act is an act to reform the law relating to children by providing for their equal status. Section 3 of the Act abolished illegitimacy and provided for equal treatment of children irrespective of their parent's marital status. \n The Health Services Act, Ch. 231 The Health Services Act, section 4 provides that medical and surgical attention shall be given to the following categories of persons at the public's expense: (a) such poor and indigent persons as may need and apply for them; (b) the inmates and staff of the prisons and of the industrial schools; (c) the members of the police force; (d) the patients in the leper asylum. \n "]
["ESG Regulation pertaining to the prevention of modern slavery."," Laws/regulations concerning the prevention of modern slavery include:  \n \n The Constitution, Trafficking in Persons (Prevention and Suppression) Act, 2008 \n The Marriages Act, Ch. 120 \n The ILO Convention on Forced Labour \n The United Nations Convention Against Transnational Organized Crimes \n The United Nations Protocol to Prevent, Suppress and Punish Trafficking In Persons Especially Women and Children \n The Convention on the Rights of the Child \n The Convention on the Elimination of Discrimination Against Women \n The Inter-American System of Human Rights \n The Inter-American Convention on the Prevention, Punishment, and Eradication of Violence against Women (known as the Belém do Pará Convention) \n "]
["ESG Regulation regarding Diversity, Equity, and Inclusion - DEI."," Laws and regulations concerning DE&I include: \n \n The Constitution Chapter III of the Constitution provides for the protection of fundamental rights and freedoms of the individual. Article 15 provides as follows: 15. Whereas every person in The Bahamas is entitled to the fundamental rights and freedoms of the individual, that is to say, has the right, whatever his race, place of origin, political opinions, colour, creed or sex, but subject to respect for the rights and freedoms of others and for the public interest, to each and all of the following, namely- (a) life, liberty, security of the person and the protection of the law; (b) freedom of conscience, of expression and of assembly and association; and (c) protection for the privacy of his home and other property and from deprivation of property without compensation, the subsequent provisions of this Chapter shall have effect for the purpose of affording protection to the aforesaid rights and freedoms subject to such limitations of that protection as are contained in those provisions, being limitations designed to ensure that the enjoyment of the said rights and freedoms by any individual does not prejudice the rights and freedoms of others or the public interest. \n Persons with Disabilities (Equal Opportunities) Act, 2014 The Persons with Disabilities (Equal Opportunities) Act is an act to achieve equalization of opportunities for persons with disabilities; to eliminate discrimination on the basis of disabilities; to provide rights and rehabilitation and habilitation of persons with disabilities; to establish the National Commission for Persons with Disabilities; and for connected purposes. \n Child Protection Act, Ch. 132 The Child Protection Act is an act to provide for the care and protection of children and related matters. Part I of the Act provides for the rights of the child. The child's welfare shall be the paramount consideration when a determination has to be made with respect to the upbringing of the child; or the administration of the child's property. The act also gives the State power to protect the interest of the child. \n Employment Act, Ch.321A The Employment Act provides for non-discrimination and equal pay for equal work (section 6). \n Education Act, Ch. 46 The Education Act provides for equal access to education for all pupils of compulsory school age. Compulsory school age means any age between five years and sixteen years. \n Status of Children Act., 2002 The Status of Children Act abolishes illegitimacy and provides for equal treatment of children irrespective of their parents' marital status. \n Inheritance Act, Ch. 116 The Inheritance Act provides that every child is entitled to be maintained even after the death of a parent. \n "]
["Regulation on ESG-linked compensation.","Not applicable.\n"]
["ESG Regulation for the protection of vulnerable or minority communities."," Laws and regulations concerning the protection of vulnerable or minority communities include:  \n \n Persons with Disabilities (Equal Opportunities) Act, 2014 The Bahamas has legislation with regard to protecting children, persons with disabilities, women and migrants (see above). \n Child Protection Act, Ch. 132 \n Education Act, Ch. 46 \n Protection Against Violence Act, 2023 The Protection Against Violence Act, 2023 is an Act to provide for the protection of and support for victims of violence; to establish the Protection Against Violence Commission; to enable the Bahamasto to fulfill certain obligationsarising under regional and international treaties and for matters connected therewith. The act provides for the general rights of victims without violence (Part IV); care and support of service (Part VI). \n Domestic Violence (Protection Orders) Act, 2008 The Domestic Violence (Protection Orders) Act is an act providing for the granting of protection orders in the circumstances surrounding domestic violence and for related and consequential matters. \n Convention on the Elimination of Discrimination Against Women \n International Convention on the Elimination of Racial Discrimination \n Convention on the Rights of Persons with Disabilities \n International Convention on Economic, Social and Cultural Rights \n Convention on the Rights of the Child \n "]
["ESG Regulation for economic development of vulnerable or minority communities or groups."," Laws and regulations concerning the economic development of vulnerable or minority communities or groups include:  \n \n Persons with Disabilities (Equal Opportunities) Act, 2014 The Persons with Disabilities (Equal Opportunities) Act is an Act to achieve equalization of opportunities for persons with disabilities; to eliminate discrimination on the basis of disabilities; to provide rights and rehabilitation and habilitation of persons with disabilities; to establish the National Commission for Persons with disabilities; and for connected purposes. Section 14 of the act provides: \"(1) No person shall deny a person with a disability equal access to opportunities for suitable employment. (2) A qualified employee with a disability shall be subject to the same terms and conditions of employment and the same compensation, privileges, benefits, fringe benefits, incentives or allowances as qualified able-bodied employees. (3) Every employer having more than one hundred employees shall employ not less than one percent of qualified persons with disabilities. (4) The Commission shall provide a list of employable persons with disabilities and where such persons are not available for employment the Commission may issue to the employer, a certificate of exemption from the requirement prescribed under subsection (3).\" Further, section 15 provides vocational training skills, development, and training programs. It provides as follows: \"The Minister responsible for Labour, Social Services, Youth, Sports and Culture, and Education shall design, collaborate and implement programs that provide — (a) persons with disabilities to be engaged as apprentices or learners; (b) persons with disabilities with skills to enable them to engage in gainful employment; and (c) appropriate vocational measures which serve to develop the skills and potential of persons with disabilities and enable them to compete favorably for available, productive and remunerative employment opportunities in the labor market.\" Section 17 provides: \"17. The Commission in conjunction with the Department of Labour, shall establish and maintain a record of persons with disabilities who are in possession of various levels of skills and training and shall update such records regularly for the purposes of job placement.\" Section 44 provides: \"44. (1) A credit union, cooperative, or lending institution shall not withhold credit or financial services from persons with disabilities solely as a result of their disabilities. (2) A person who contravenes subsection (1) is guilty of an offense and is liable on summary conviction to a fine not exceeding five thousand dollars.\" \n Employment Act, Ch. 321A The Employment Act, section 6 provides for non-discrimination and equal pay for equal work. It provides \"No employer or person acting on behalf of an employer shall discriminate against an employee or applicant for employment on the basis of race, creed, sex, marital status, political opinion, age or HIV/Aids by — (a) refusing to offer employment to an applicant for employment or not affording the employee access to opportunities for promotion, training or other benefits, or by dismissing or subjecting the employee to other detriment solely because of his or her race, creed, sex, marital status, political opinion, age or HIV/Aids; (b) paying him at a rate of pay less than the rate of pay of another employee, for substantially the same kind of work or for work of equal value performed in the same establishment, the performance of which requires substantially the same skill, effort and responsibility and which is performed under similar working conditions except where such payment is made pursuant to seniority, merit, earnings by quantity or quality of production or a differential based on any factor other than race, creed, sex, marital status, political opinion, age or HIV/Aids; (c) pre-screening for HIV status: Provided that this section does not affect any other law or contract term which stipulates a retirement age.\" The Employment Act , section 7 further provides \"7. Section 6 shall apply mutatis mutandis to disabled employees unless the employer can show that the job requirements relied on as grounds for hiring the disabled person at a lesser rate of pay are reasonable or the disabled person cannot be accommodated without undue hardship.\" \n National Insurance Act, Ch. 350 Further, the National Insurance Act is an act to establish a system of national insurance providing pecuniary payments in respect of sickness, invalidity, maternity, retirement, death, industrial injury and disablement and death from industrial injury, medical care, and social assistance for insured and other persons not qualifying for such payments as of right and for purposes connected with or incidental to the matters aforesaid. The benefits provided for under the National Insurance Act provide for the economic development of the most vulnerable in the community, including persons with disabilities, women, the elderly and children.  \n Married Women's Property Act, Ch. 129 The Married Women's Property Act is an act relating to the property of married women. Section 2 of the Married Women's Property Act provides as follows: \" (1) A married woman shall, in accordance with the provisions of this act, be capable of acquiring, holding and disposing by will or otherwise, of any real or personal property as her separate property, in the same manner as if she were a femme sole, without the intervention of any trustee. (2) A married woman shall be capable of entering into and rendering herself liable in respect of and to the extent of her separate property on any contract, and of suing and being sued, either in contract or in tort, or otherwise in all respects as if she were a femme sole, and her husband need not be joined with her as plaintiff or defendant, or be made a party to any action or other legal proceeding brought by or taken against her, and any damages or costs recovered by her in any such action or proceeding shall be her separate property, and any damages or costs recovered against her in any action or proceeding shall be payable out of her separate property, and not otherwise. (3) Every married woman carrying on a trade separately from her husband shall, in respect of her separate property, be subject to the bankruptcy laws in the same way as if she were a femme sole.\" While there are no laws or regulations in place specifically for rural women, successive governments have hosted various workshops on family islands to provide rural women with skills necessary for economic development, including straw plaiting workshops, workshops for making jam preservations, backyard farming workshops, etc. \n "]
["Regulation on Personal Data Protection, concerning data usage transparency, limits on data usage to prevent discrimination issues, and corporate digital responsibility."," Laws and regulations concerning Personal Data Protection, data usage transparency, limits on data usage to prevent discrimination issues, and corporate digital responsibility include:  \n \n Data Protection (Privacy of Personal Information) Act, 2003 The Data Protection (Privacy of Personal Information) Act is an act to protect the privacy of individuals in relation to personal data and to regulate the collection, processing, keeping, use and disclosure of certain information relating to individuals and to provide for matters incidental thereto or connected therewith. The act defines sensitive personal data in Section 2(1) of the act, i.e., personal data relating to racial origin; political opinions or religious or other beliefs; physical or mental health (other than any such data reasonably kept by them in relation to the physical or mental health of their employees in the ordinary course of personnel administration and not used or disclosed for any other purpose); trade union involvement or activities; sexual life; or, criminal convictions, the commission or alleged commission of any offense, or any proceedings for any offense committed, the disposal of such proceedings, or the sentence of any court in such proceedings. However, while Section 30(1)(a) of the act provides that the Minister responsible for data protection may, from time to time, make regulations to provide additional safeguards in relation to sensitive personal data, no regulation has been created to provide specific provisions regarding the processing of sensitive categories of personal data. \n Interception of Communication Act, 2018 The Interception of Communication Act is an act to provide for the interception of communications and the provision of information for interception in The Bahamas and for related matters. \n Computer Misuse Act, 2003 The Computer Misuse Act is An act to make provisions securing computer material against unauthorized access or modification and for connected purposes. \n "]
["Environmental"]
["ESG Regulation related to climate change prevention or mitigation, specifically concerning carbon footprint or pollution measurement, decarbonization strategies, and/or mandates and strategies to achieve local carbon neutrality commitments"," Laws/regulations concerning climate change prevention or mitigation include:  \n \n The Climate Change and Carbon Market Initiatives Act, 2022 (see sections 3 & 4) The purpose of the Climate Change and Carbon Market Initiatives Act is to give effect to the Paris Agreement, to aid in the global response to the threat of climate change and to create and implement initiatives to offset carbon emissions. This act applies to carbon credits in respect of anything done in, on, or above or below the land and airspace of The Bahamas, including (a) its internal waters, territorial waters and exclusive economic zone; (b) the seabed and subsoil underlying these waters; (c) its continental, coastal and marine ecosystems and related water; and (d) its forests, and such carbon credits are deemed for the purposes of this act to be the property of The Bahamas. The objectives of this act are i) to enable the Government to create incentives and implement initiatives to support the overall global target of greenhouse gas emissions reduction consistent with its Nationally Determined Contributions; ii) to ensure compliance by The Bahamas of its obligations under the Paris Agreement, taking into consideration the common but differentiated responsibilities, respective capabilities and flexibility provisions acknowledged under the UNFCCC for small island developing states to address climate change; and iii) to enable the establishment of a market in The Bahamas to trade in carbon credits. \n The Environmental Planning and Protection Act, 2019 The Environmental Planning and Protection Act makes provisions for the preparation of a National Environmental Policy. The objective of the policy is to affirm the Government of The Bahamas' commitment to the sustainable use of the environment and the promotion of economic and social development that fully integrates the environment in a manner consistent with the goal of sustainable development. This policy will aid in the prevention, reduction, and elimination of various forms of pollution to ensure adequate protection of the environment and the health of the Bahamian people. \n "]
["ESG Regulation regarding energy transition (requirements or promotion and use of new second-generation renewable energy sources such as solar, wind, tidal, H2, geothermal, among others).\n"," Laws/regulations concerning energy transition include:  \n \n The Electricity Act, 2016 (see sections 5, 6, and 26) The Electricity Act aids the government in its mandate to promote the use of and investment into renewable energy/renewable electricity sources through the creation of a National Energy Policy , an Electricity Sector and making provisions for Renewable Energy. The Bahamas' electricity company, Bahamas Power and Light, has complied with the mandate of the Electricity Act by taking steps to issue guidance for organizations wishing to use renewable energy sources and inviting those entities to submit applications for approval. \n \n \n \n \n Bahamas Power and Light and renewable energy: https://www.bplco.com/renewableenergy/   \n Level 1 Requirements for Grid Interconnection: https://www.bplco.com/wp-content/uploads/2020/02/Level_1_SSRG_Requirements_for_Grid_Interconnetion_-_4.0_Final-1.pdf   \n \n \n The National Energy Policy 2013-2033 The National Energy Policy has four inter-related goals i) Bahamians will become aware of the importance of energy conservation, use energy wisely and continuously pursue opportunities for improving energy efficiencies, with key economic sectors embracing eco-efficiency; ii) The Bahamas will have a modern energy infastructure that enhances energy generation capacity and ensures that energy supplies are safely, reliably, and affordably transported to homes, communities and the productive sectors on a sustainable basis; iii) The Bahamas will become a world leader in the development and implementation of sustainable energy opportunities and continuously purusues a diverse range of well-research and regulated, environmentally sensitive and sustainable energy programmes, built upon our geographical, climatic and traditional economic strengths; and iv) The Bahamas will have a dynamic and appropriate governance, institutional, legal and regulatory framework advancing future developments in the energy sector underpinned by high levels of consultation, citizen participation and public-private sector partnerships.\n The policy emphasizes that achieving these goals will result in (not an exhaustive list) i) diversification of the country's energy supply mix to achieve greater energy self-sufficiency, optimizing development and utilization of indigenous energy resources; ii) taking advantage of emerging technologies that will reduce the country's dependence on fossil fuels and allow for greater use of renewables and other forms of energy; and iii) minimal negative impacts on the natural environment because energy resources development takes into account environmental considerations. \n \n "]
["ESG Regulation concerning electricity markets, carbon markets, or similar.\n"," Laws/regulations concerning electricity markets, carbon markets, or similar include:  \n \n Carbon Credit Trading Act, 2022 (see part III) The purpose of the Carbon Credit Trading Act is to regulate the trading of blue-carbon credits in or from within The Bahamas. The act applies to any person who participates in the promotion, marketing, arranging, purchase or sale of carbon trading products and any legal entity carrying on a carbon trading business irrespective of the physical location from which the activity is carried out. With the implementation of this legislation, the Securities Commission of The Bahamas is responsible for regulating the trading of the carbon credits, carbon securities and all carbon-linked digital assets that make up this new asset class. \n "]
["ESG Regulation in the realm of green or sustainable financing, including taxonomies, provisions for mandatory reporting of material financial information on environmental or social matters, as prerequisites for issuing thematic bonds (green, sustainable, social, etc.), mechanisms to promote sustainable financial products and services, etc.\n"," Laws/regulations concerning the realm of green or sustainable financing include:  \n \n The Bahamas Sustainable Investment Program (\"BSIP\") The Prime Minister of The Bahamas, The Right Honourable Philip Davis announced The Bahamas' new sustainable investment program at the Clinton Global Initiative in 2023. Once implemented, the BSIP will mobilize high-quality investments that produce risk-adjusted returns and positive social impact and adhere to global ESG standards and sustainability philosophies. The initiative is projected to improve the attractiveness of The Bahamas as an investment destination, shifting the perceptions of global investors and bringing the domestic policy framework in alignment with global trends. \n \n The scope of the application is Federal. "]
["ESG Regulation for preventing greenwashing.","While there is no direct regulation relative to greenwashing, the newly tabled \nConsumer Protection Bill, of 2023 makes it unlawful for a business to mislead its consumers regarding its products and services.\nThe purpose of the \nConsumer Protection Bill, of 2023 (which is not yet an act) is to make provisions for the greater protection of consumers. The relevant sections address unfair practices by business owners in baiting and deceiving consumers into purchasing products or services for various reasons including misrepresentation of the products' quality and materials. The \nBill also outlaws the promotion of goods and services where it does not accurately reflect the good and service.\nSee sections 42 (1) & (2)(c)(i) 43 and 45."]
["Regulation on ESG Due Diligence applicable to value chains (MRV protocols to ensure the environmental integrity of products and services, etc.).\n","Not applicable.\n"]
["Regulation in the field of circular economy.\n","Not applicable.\n"]
["Governance"]
["ESG Regulation regarding the integration of the board of directors, board of trustees, or management body of the company (minimum participation/representation of women or minority groups, guidelines on the composition of board members with expertise in ESG matters, etc.).\n"," Laws/regulations concerning the integration of the board of directors, board of trustees, or management body of the company include:  \n \n The Central Bank's Guidelines on Corporate Governance Regulate boards of directors of banks and trust companies, but not in respect of minimum participation/representation of women or minority groups, guidelines on the composition of board members with expertise in ESG matters, etc.  The requirement for independent non-executive directors with a view to providing checks and balances for the institution \n "]
["Regulation on fiduciary responsibility and administrators' roles in environmental and social risk management (standards or interpretations regarding the scope of fiduciary responsibility or administrator's duty concerning the company's social purpose, based on its typology).\n"," Laws/regulations concerning fiduciary responsibility and administrators' roles in environmental and social risk management include:  \n \n The Trustee Act, 1998 and the Trustee (Amendment) Act, 2011 The Trustee Act codifies the Trustee's rights and duties along with their fiduciary responsibilities and provides a process for the Trustee to seek the advice, directions and/or opinion of the Court. The confidentiality of trusts along with the confidentiality of applications for the Court's direction are protected, which aligns with the nature of trusts which is privacy. Further, the Amendment Act formally recognizes the role of the Protector in trusts. \n Probate and Administration of Estates Act, 2010 Personal representatives of estates are trustees for the beneficiaries thereunder. Where any beneficiary to an estate is a minor, under the Probate and Administration of Estates Act , with a view to protecting the inheritance of minor beneficiaries, a minimum of two (2) personal representatives is required if the grant of representation for the administration of the estate is not given to a trust corporation. \n "]
["ESG Regulation concerning corporate purpose.\n"," Laws/regulations concerning corporate purpose include:  \n \n The Securities Industry Act, 2011 The Securities Industry Act establishes the Securities Commission of The Bahamas, which is the regulator and overseer of investment funds, securities and capital markets \n The Financial Transactions Reporting Act, 2020 (\"FTRA\") The FTRA establishes the Compliance Commission of The Bahamas, which is responsible for overseeing financial institutions and ensuring compliance with the FTRA . The act was repealed and replaced by the FTRA 2018 which requires all non-designated financial institutions to conduct due diligence with a view to preventing money laundering and terrorism financing \n The Insurance Act, 2005 The Insurance Act establishes the Insurance Commission, which oversees the insurance industry by encouraging fairness in insurance management and business practices. The purpose of the act is to provide further protection to policyholders and increase capital and solvency requirements of insurance companies. \n Central Bank Corporate Governance Guidelines Although the Central Bank Guidelines are not law, they provide guidelines that oversee the banking and trust industries. The Central Bank is the licensor of all financial banking institutions in The Bahamas. The corporate governance of banks and trust companies is a top priority of The Bahamas’ Central Bank. The Central Bank’s concern with these institutions’ corporate governance comes as no surprise since they are different from other organizations in that their assets are the property of others and the jurisdiction’s economy and financial system can be easily affected by the interdependence of financial institutions. The banking industry is one of the country’s leading industries after tourism.\n The Central Bank has Corporate Governance Guidelines , which include policies such as the decentralization of executive and management powers, the requirement for independent non-executive directors with a view to providing checks and balances for the institution, guidelines on competent boards for the purpose of meeting obligations to customers and stakeholders, the process for reporting problems and requirement to provide an action plan for rectifying same. \n \n "]
["Regulation on types of Benefit and Collective Interest Companies (certifications like B Corps, specific regulations for BIC companies).\n","Not applicable.\n"]
["ESG Regulation regarding supply chains from the perspective of ESG risk governance.\n"," Laws/regulations concerning supply chains from the perspective of ESG risk governance include:  \n \n The Utilities Regulation and Competition Authority (URCA) Act, 2009 The Act establishes URCA , which is responsible for the electronic communications sector along with the electricity sector. With respect to the electronic communications sector, URCA manages assets and applies competition rules as well as issuing licenses and exemptions. With respect to regulation of the electricity sector, URCA is responsible for entities that supply electricity in The Bahamas. In this way, the supply of electronic communications and electricity is ethically regulated. \n Bahamas Power and Light (\"BPL\") Energy Purchase/Interconnection Agreement (not law) Although not law, BPL , which is the only supplier of electricity and is state-owned, has incentivized consumers to use alternative energy by implementing a scheme where users can sell electricity back to the corporation. There are residents who currently make use of this incentive. \n Senior Discount Policy at Water & Sewerage (not law) Although not law, Bahamas Water & Sewage offers discounts for seniors, who are vulnerable persons in society. \n BPL Consumer Protection Plan for Vulnerable Customers Although not law, as part of its 2019 Consumer Protection Plan , which was approved by URCA , vulnerable customers have the option of levelized billing by way of a flat monthly fee. \"Vulnerable customers\" includes economically vulnerable persons and physically vulnerable persons who are unable to take care of themselves by reason of age, illness, disability or any other similar reason and may be harmed through the loss of electricity services to the building in which they are domiciled. Both the discount and the offering of the levelized billing serve to protect vulnerable groups from loss of the supply of essential utilities. \n "]
["ESG Regulation in the context of M&A (ESG due diligence).\n","There are mergers & acquisitions related to ordinary Bahamian Companies as well as International Business Companies, but none in the context of ESG.\n"]
["ESG Regulation related to Corporate Digital Responsibility.\n"," Laws/regulations concerning Corporate Digital Responsibility include: \n \n The Interception of Communications Act, 2018 The legislation prohibits the interception of communication without a warrant; Persons are prohibited from using listening devices to hear, listen to, or record a private conversation to which he is not a party and such acts constitute offenses against this act. This is subject to limited exceptions, such as where the recording is in accordance with a court order or where it involves an unintentional hearing of a private telephone conversation. \n The Computer Misuse Act, 2003 The Computer Misuse Act provides for the security of computer material against unauthorized access or modification by making it an offense to intercept computer services without authority and providing for police to access computers and data. \n The Data Protection (Privacy of Personal Information) Act The Data Protection Act aims to protect persons' privacy and regulate the collection, processing, retention, use and disclosure of certain information. \n "]
["Disclosure"]
["Specific mandates related to national alignment with specific reporting standards.","Not applicable.\n"]
["Standards regarding the scope and frequency of such reports.","Not applicable.\n"]