Irfaan Ali: “Guyana stands committed to carbon neutrality, sustainable development”
DPI – President Dr Mohamed Irfaan Ali reaffirmed the government’s dedication to attaining carbon neutrality while underscoring the substantial influence that Guyana’s climate adaptation initiatives have had on an international level.
These were his remarks during an interview with Morning Brew of Trinidad and Tobago.
Guyana’s substantial forested area and strategic location within the Amazon basin make it critical to the worldwide effort to combat climate change.
The Amazon basin provides approximately 20% of the world’s oxygen, earning it the moniker “lungs of the world.” In this context, President Ali stated that Guyana is a leader in forest management and safeguarding the lungs of the globe.
The forests of Guyana store 19.5 gigatonnes of carbon and sequester the carbon dioxide they absorb. Thus, carbon capture occurs beyond the storage phase.
“When you consider the biodiversity’s abundance in a world that has lost over 60 per cent of its biodiversity and ecological services in the last 50 years, you realize the global significance of Guyana’s forests in their entirety,” the president elaborated.
Given these circumstances, President Ali emphasized the critical need for the developed world, specifically those emitting carbon emissions, to adopt resolute measures to aid the global effort to combat climate change.
This necessitates significant financial commitments to climate adaptation initiatives, a goal that the government has consistently supported.
Furthermore, the president emphasized that Guyana already demonstrates an innovative framework for generating revenue from natural resources that promotes environmental responsibility and carbon neutrality.
In December 2022, the nation entered into a momentous multi-year accord with Hess Corporation. Under the terms of this agreement, the nation shall acquire 2.5 million carbon credits annually from 2016 to 2030.
Consequently, Guyana is remunerated for preserving its forested areas. The resulting funds are allocated to initiatives that promote sustainable development, including, but not limited to, resilient agriculture systems, renewable energy, and coastal defence.
Already, 15% of the funds generated through this agreement are allocated to indigenous communities. Due to this endeavour, 800 initiatives are in progress within these communities.
Recently, the nation’s carbon credits issued were approved for airlines to use in the preliminary stage of CORSIA, a worldwide emission reduction initiative established by the International Civil Aviation Organization (ICAO).
President Ali asserts that these accomplishments serve as evidence of Guyana’s commitment to constructing a more robust future against climate change’s impacts.
“Global attention has been drawn to the policy and framework we have developed for the management of our forests and the utilization of forests as a significant tool in combating climate change,” he continued. “Perhaps this is the reason why…”
He stated that Guyana is a pioneering nation not only in sustainable forest management but, more significantly, in creating a framework that will ensure forests continue to play a significant role in mitigating the effects of climate change in the future.
The president further highlighted the Low Carbon Development Strategy (LCDS2030), the fundamental framework for Guyana’s endeavours to combat climate change. The LCDS’s primary concerns are significant carbon sinks and the country’s expansive rainforest.
In accordance with this criterion, the government pursues economic development by utilizing its oil and gas resources in a manner that safeguards Guyana’s environmental reputation.
The president added, “For us, forest management is not only about climate change and the environment; it is also about monetizing this invaluable national resource to fund the development of a sustainable economy.”
The leader of Guyana reaffirmed that the objective is to guarantee the execution of policies that safeguard forests and prevent land degradation while preserving sustainable agriculture and livelihoods.