Latest news with #NauruEconomicandClimateResilienceCitizenshipProgram
Bahrain News Gazette
18-03-2025
- Business
- Bahrain News Gazette
New Report Exposes Climate Finance Failures, Calls for Urgent Investment Migration Solutions
LONDON , March 18, 2025 (GLOBE NEWSWIRE) — A groundbreaking climate finance report, released today by the Climate Vulnerable Forum (CVF) and Henley & Partners , highlights the failings in funding urgent climate action and explores how investment migration can unlock vital resources for climate resilience in the world's most at-risk nations. The CVF, an international organization of 70 climate-vulnerable countries representing 1.75 billion people — 20% of the global population — accounts for just 6% of global emissions yet faces the most severe impacts of climate breakdown. By 2030, these nations will require an estimated USD 500 billion annually to fund climate action, development, and nature preservation. As CVF Secretary-General and former President of the Maldives, Mohamed Nasheed, points out in the Citizenship by Investment: Sustainable Climate Finance for Governments report, global climate finance remains sluggish, restrictive, and largely inaccessible to those who need it most. 'While wealthy nations delay climate action and funding commitments, frontline countries are left fighting for survival. The international financial system is failing us, and we need bold solutions to shift the balance of power in climate finance. Over the past two decades, CVF countries have already lost 20% of their potential GDP growth due to climate impacts. We cannot rely on charity from industrialized nations. Urgent initiatives are needed to ensure direct and immediate access to climate finance.' Mobilizing private capital for climate resilience Through its globally leading international government advisory practice, Henley & Partners has been providing strategic consulting to countries on the development, implementation, and management of investment-based residence and citizenship programs. To date, the firm has facilitated over USD 15 billion in foreign direct investment in many states. Its most recent initiative led to the establishment of the first climate-related citizenship investment program, the Nauru Economic and Climate Resilience Citizenship Program . Commenting in the report, H.E. Hon. David W.R. Adeang, M.P., President of the Republic of Nauru, says 'our program funds critical resilience initiatives — from coastal reinforcement to modernized water management and sustainable food production. Similar models have strengthened climate resilience in small island states like Grenada and Antigua and Barbuda, but Nauru's is the first to put climate adaptation at its core. The innovations we implement against rising seas can help shape global strategies for resilience.' According to the UN, Small Island Developing States (SIDS) have suffered USD 153 billion in climate-related losses over the past five decades, despite contributing less than 1% of global emissions, and the financial burden on these nations is further exacerbated by a USD 34 billion climate adaptation finance gap. Compounding these challenges, 70% of SIDS exceed sustainable debt levels, and climate disaster damages in these regions have surged by 90% from 2011 to 2022. Dr. Juerg Steffen , CEO of Henley & Partners, says 'by mobilizing international investment, we can provide immediate, non-debt funding for climate resilience projects, offering a crucial financial lifeline for vulnerable nations while enabling investors to support global climate action. Rethinking how private wealth and capital intersects with public financing needs is key to bridging the climate finance gap.' From sovereign debt to sovereign equity The report outlines how investment migration programs can be structured to create Investment Migration Resilience Funds (IMRFs) that channel private capital into critical climate resilience projects without increasing national debt. By linking these programs with natural capital endowment trusts, countries can secure sustainable revenue streams to finance coastal protection, carbon offset initiatives, and the expansion of the blue economy. Successful models of this approach include leveraging blue bonds, eco-tourism, and carbon credit markets to generate funds for climate adaptation and economic diversification. Henley & Partners' Chief Economist Jean Paul Fabri explains how, 'effective IMRFs will operate like sovereign wealth funds, aimed at reducing economic fluctuations, funding long-term sustainability initiatives, and providing a financial cushion against climate and economic challenges. However, they differ from traditional models by incorporating climate finance, risk management, and economic development into their governance.' 'For too long, climate-vulnerable nations have been told to adapt, cope, and endure — as if resilience were simply an act of will, rather than a matter of investment,' insists Sara Jane Ahmed, Managing Director of CVF and V20 Finance Advisor at the CVF-V20 Secretariat. 'By funding climate resilience, the world is not just aiding at-risk nations — it is unlocking markets, strengthening economies, and shaping a shared future. The future belongs not to those who wait, but to those bold enough to build it.' Read the Full Press Release Media Contact: Sarah Nicklin Group Head of PR [email protected] +27 72 464 8965 GlobeNewswire Distribution ID 1001053914
Yahoo
10-03-2025
- Business
- Yahoo
A Sinking Island's Bold Plan To Escape Rising Seas: Selling Passports
Nauru, a tiny Pacific island threatened by rising seas, is selling citizenship in a bold effort to fund climate resilience. The 'golden passport' initiative aims to raise money for relocating 90% of the nation's 12,500 residents to higher ground inland, a project far beyond the nation's financial means. 'We are the world's smallest republic with the world's biggest climate resilience vision,' said Edward Clark, CEO of the Nauru Economic and Climate Resilience Citizenship Program. 'The time for half-measures and incremental change has passed.' (MORE: Climate Change Has Worsened Weather Disasters) With king tides, storm surges and coastal erosion endangering its future, Nauru has partnered with consultant company Henley & Partners to design and run the program. According to the Henley & Partners website, a Nauru passport will cost "a minimum of $130,000 for a single applicant, $137,500 for a family of two to four members, or $145,000 for a family of five or more members," though additional fees may apply. A Nauru passport grants travelers visa-free access to dozens of countries, including Ireland, Singapore, the UAE and the UK. Clark emphasized that only applicants who pass strict financial crime and security checks will be accepted. 'Our program is a way of opening Nauru to the world and enabling citizenship in a nation actively working towards climate resilience," said Clark. (MORE: Extreme Weather Is Forcing Travelers To Change Plans) With this initiative, Nauru is following the lead of Dominica, which has used citizenship sales to fund its goal of becoming the world's first climate-resilient nation by 2030. With traditional funding mechanisms falling short, Nauru's government believes this daring strategy could be key to its survival in an era of accelerating climate change. MORE ON Cities Hiding Popular Landmarks From Tourists World's Largest Coral Found In Pacific Ocean Which Flight Routes Are Most Turbulent?
USA Today
08-03-2025
- Business
- USA Today
You could buy citizenship to this tiny Pacific island for $105,000
You could buy citizenship to this tiny Pacific island for $105,000 Show Caption Hide Caption Want to move abroad? These are the best countries for remote workers. Here are seven countries with digital nomad visas if you're looking to move abroad. The small island nation of Nauru launched a new program selling citizenship to individuals and families in exchange for a six-figure contribution to its climate change initiatives. Facing rising sea levels and biodiversity loss, the low-lying atoll hopes to raise funds for climate resilience projects like solar energy installation and water security. If you dream of escaping to a tiny island in the South Pacific, you may just be in luck. The serene nation of Nauru recently launched a golden passport initiative selling citizenship with an investment starting at $105,000. Located in the Central Pacific, Nauru is home to under 12,000 people and spans just over eight miles to be the world's smallest independent republic, according to its government website. Along with a long history of Micronesian and Polynesian cultures who have lived there for over 3,000 years, the island is also rich in pristine beaches and marine life. However, all of that is under threat by climate change. As a low-lying atoll, Nauru is at a higher risk for rising sea levels and biodiversity loss, prompting the world's third-smallest nation to introduce the Nauru Economic and Climate Resilience Citizenship Program at the 2024 United Nations Climate Change Conference. "We stand on the frontlines of climate change, facing rising sea levels, intensifying storm surges, and accelerating biodiversity loss," Prime Minister Asterio Appi said in a news release. "The consequences of global warming are rendering Pacific Island states increasingly uninhabitable. By choosing Nauru's citizenship program, investors aren't merely securing their own future – they're investing in the future of our planet." Developed in collaboration with global residence and citizenship by investment firm Henley & Partners, the initiative offers a Nauruan passport in exchange for financial contribution to its climate change solutions. The Nauru Economic and Climate Resilience Citizenship Program Office did not respond to USA TODAY's request for comment. "By mobilizing international investment, we can provide immediate, non-debt funding for climate resilience projects, offering a crucial financial lifeline for vulnerable nations while enabling investors to support global climate action," said Dr. Juerg Steffen, CEO of Henley & Partners, in a statement to USA TODAY. "Rethinking how private wealth and capital intersect with public survival is key to bridging the climate finance gap. Investment-based residence and citizenship programs have emerged as one such mechanism, channeling funds into adaptation, mitigation and sustainable development efforts in high-risk regions.' Here's what to know about Nauru's new golden passport program. What are the benefits of a Nauruan passport? Besides helping to fund Nauru's Higher Ground Initiative – which supports climate change mitigation efforts like solar energy installation, EV infrastructure, water security and affordable green housing – successful applicants also receive a Nauruan passport and dual citizenship in about three to four months, according to the program office website. "As a Nauru citizen, you will enjoy the benefits of a politically neutral passport, providing you with a valuable safeguard in times of global uncertainty," it states in a fact sheet. Passport holders get visa-free access to more than 89 destinations, including Singapore, Hong Kong, the United Arab Emirates, the United Kingdom and several places in Polynesia – and can extend citizenship to family members for an added cost. There are also no minimum stay visa requirements to achieve dual citizenship. How much does it cost to get citizenship in Nauru? For a single applicant over the age of 18 years old with a clean personal background and proof of the source of funds, the contribution starts at $105,000, along with fees of $25,000 for the application, $10,000 for due diligence, and $500 for the passport itself. This totals $140,500 for one person, which is still significantly cheaper than Europe's popular golden visas – in Malta, one of the lower-cost options, the minimum investment starts at €182,000 (about $197,284). To add a family member, costs go up. For a family of up to four members, the contribution rises to $110,000 with the application fee at $27,500 and the due diligence costing $10,000 for the main applicant plus $7,500 for each additional member over 16 years old – a total of $172,000 for a four-member family, including the $500 per passport fee. A family of five or more requires a contribution of $115,000, with an application fee of $30,000.
Yahoo
07-03-2025
- Business
- Yahoo
You could buy citizenship to this tiny Pacific island for $105,000
If you dream of escaping to a tiny island in the South Pacific, you may just be in luck. The serene nation of Nauru recently launched a golden passport initiative selling citizenship with an investment starting at $105,000. Located in the Central Pacific, Nauru is home to under 12,000 people and spans just over eight miles to be the world's smallest independent republic, according to its government website. Along with a long history of Micronesian and Polynesian cultures who have lived there for over 3,000 years, the island is also rich in pristine beaches and marine life. However, all of that is under threat by climate change. As a low-lying atoll, Nauru is at a higher risk for rising sea levels and biodiversity loss, prompting the world's third-smallest nation to introduce the Nauru Economic and Climate Resilience Citizenship Program at the 2024 United Nations Climate Change Conference. "We stand on the frontlines of climate change, facing rising sea levels, intensifying storm surges, and accelerating biodiversity loss," Prime Minister Asterio Appi said in a news release. "The consequences of global warming are rendering Pacific Island states increasingly uninhabitable. By choosing Nauru's citizenship program, investors aren't merely securing their own future – they're investing in the future of our planet." Developed in collaboration with global residence and citizenship by investment firm Henley & Partners, the initiative offers a Nauruan passport in exchange for financial contribution to its climate change solutions. The Nauru Economic and Climate Resilience Citizenship Program Office did not respond to USA TODAY's request for comment. "By mobilizing international investment, we can provide immediate, non-debt funding for climate resilience projects, offering a crucial financial lifeline for vulnerable nations while enabling investors to support global climate action," said Dr. Juerg Steffen, CEO of Henley & Partners, in a statement to USA TODAY. "Rethinking how private wealth and capital intersect with public survival is key to bridging the climate finance gap. Investment-based residence and citizenship programs have emerged as one such mechanism, channeling funds into adaptation, mitigation and sustainable development efforts in high-risk regions.' Here's what to know about Nauru's new golden passport program. Besides helping to fund Nauru's Higher Ground Initiative – which supports climate change mitigation efforts like solar energy installation, EV infrastructure, water security and affordable green housing – successful applicants also receive a Nauruan passport and dual citizenship in about three to four months, according to the program office website. "As a Nauru citizen, you will enjoy the benefits of a politically neutral passport, providing you with a valuable safeguard in times of global uncertainty," it states in a fact sheet. Passport holders get visa-free access to more than 89 destinations, including Singapore, Hong Kong, the United Arab Emirates, the United Kingdom and several places in Polynesia – and can extend citizenship to family members for an added cost. There are also no minimum stay visa requirements to achieve dual citizenship. For a single applicant over the age of 18 years old with a clean personal background and proof of the source of funds, the contribution starts at $105,000, along with fees of $25,000 for the application, $10,000 for due diligence, and $500 for the passport itself. This totals $140,500 for one person, which is still significantly cheaper than Europe's popular golden visas – in Malta, one of the lower-cost options, the minimum investment starts at €182,000 (about $197,284). To add a family member, costs go up. For a family of up to four members, the contribution rises to $110,000 with the application fee at $27,500 and the due diligence costing $10,000 for the main applicant plus $7,500 for each additional member over 16 years old – a total of $172,000 for a four-member family, including the $500 per passport fee. A family of five or more requires a contribution of $115,000, with an application fee of $30,000. This article originally appeared on USA TODAY: This island is selling citizenship in fight against climate change
