Credit Suisse Alumni to Help Fund New Bahamas Carbon Facility

A boutique private-credit firm set up by former Credit Suisse bankers has agreed to provide a lending facility to support a new carbon program in the Bahamas.

Under the plan, the Bahamas will invest in protecting its marine environment, which will form the basis of carbon credits to be sold under Article 6 of the Paris Agreement. ArtCap Strategies is providing a $25 million facility to help kickstart the Bahamas Sovereign Carbon Facility, which is seeking to mobilize up to $1 billion of financing within the next 12 months, said Antonio Navarro, a managing partner at the firm, in an emailed reply to questions.