As Guyana rapidly develops its oil and gas resources, President Dr Mohamed Irfaan Ali has emphasised his nation’s commitment to a balanced developmental approach anchored by its comprehensive Low Carbon Development Strategy (LCDS) 2030.
Guyana’s president says his country’s story should not only be about oil and gas but also about its rich forest and biodiversity and how they are helping to mitigate against the negative impact of climate change.
In an interview with The New York Times Climate Forward Event in New York, the Head of State says there is no contradiction between Guyana’s plan for its petroleum industry and its commitment to preserving his country’s natural environment.
“There is no hypocrisy or contradiction in our development path. We have made it very clear. And we have also said that we must remove the subsidy from petroleum-producing countries and companies. We support that too,” the president said in response to a question.
To back up his argument, he highlighted the fact that while more than 50 per cent of global biodiversity has been lost, Guyana, strategically located in two of the richest biodiversity zones – the Amazon and the Guyana Shield – remains intact.
Additionally, the World-Wide Fund (WWF) has identified Guyana as one of the world’s most important countries for biodiversity.
“Whilst in the rest of the world, we have lost more than 50 per cent (of biodiversity), here is a small developing country that came out of colonial rule that is making a global commitment that we are going to keep, regardless of the development trajectory of the country, that biodiversity,” President Ali said.
Guyana is situated in a region that is vulnerable to climate events which requires an understanding and adapting to the human impact of climate change.
However, according to President Ali, acquiring the financial resources for mitigation and adaptation against this phenomenon is almost impossible. That is why Guyana, as a developing nation, is accelerating the development of its newly found resources.
“Where do we find the resources for mitigation and adaption?” he questioned, adding, “No one is coming with a grant to give these countries to invest in adaptation and mitigation… You have to find resources,” he said.
The president explained that even as Guyana maximises its petroleum activities, the country will utilise 20 per cent of carbon which is being sequestered in its forests.
More than 80 per cent of Guyana’s landscape is covered in forest which stores 19.5 gigatonnes of carbon. According to the LCDS, Guyana’s forests remove 154 million tonnes of Co2 from the earth’s atmosphere every year.
President Ali explained that fossil fuels is expected to play an integral role in the energy matrix beyond 2030. He said that Guyana should be seen as a leading producer of energy due to its low carbon footprint.
Further, he dispelled rumours that the LCDS 2030 was not subjected to a proper process of consultation. President Ali affirmed that all indigenous leaders, through the National Toshaos Council (NTC), have signed on to this document.
Guyana is leading the climate change discussion and has on multiple occasions, outlined its logical approach to the development of its petroleum industry along with the preservation of the environment high on its agenda.
Under the LCDS 2030, Guyana signed a historic agreement with Hess Corporation to purchase 30 per cent of the country’s forest carbon over a period of ten years. The government has earmarked 15 per cent of total LCDS 2030 revenues towards improving the livelihood of Amerindian communities. The remaining 85 per cent of resources will be invested into climate adaptation and mitigation. [DPI]
