Almost two years ago, in addressing a high level UN conference on Climate Change called by then newly appointed UN Secretary-General, Ban Ki-Moon, President Bharrat Jagdeo delivered a frank and insightful statement to the Thematic Plenary Session on Mitigation of Climate Change.

“In promoting efforts for the mitigation of climate change,” he stated, “there is need to recognise the special circumstances and vulnerability of Least Developed Countries and Small Island Developing States and to give priority for support of actions in responding to climate change…Mitigation efforts will only improve if the international community provides an encouraging framework for their development.”

That conference was held under the theme, “Addressing the Leadership Challenge of Climate Change”, and while the statement read by the President was a mere four pages long, it encapsulated some of the core ideas which have been captured in Guyana’s draft, “Low-Carbon Economic Development Strategy”, slated to be launched today at the International Convention Centre at Liliendaal.

In the statement, for example, the President harshly criticized the shortcomings of existing policy on Climate Change, pointing out the shortcomings of even the revered Kyoto Protocol, citing its failure to recognize or “provide adequate compensation for the contribution of standing forests towards climate change mitigation.” What is also important is what the President then referred to as the “perverse arrangement” which lowers the value of carbon credits the better a country is at preventing deforestation.

A short two years later, a sort of quiet revolution seems to have taken place with regard to Guyana’s policy specifically when it comes to attempting to establishing true value, in terms of a dollar figure, to preserving Guyana’s forests, and lobbying for the recognition of the value of not just ours, but other forests – in short, creating the very framework he had cited a lack of in his presentation to the UN. According to the Executive Summary of the “Low-Carbon Development Strategy”, the encapsulation of the President’s efforts in this area:

“Guyana’s pristine forests are its most valuable asset – the majority of the 15 million hectare rainforest is suitable for timber extraction and post-harvest agriculture, and significant mineral deposits exist below its surface. The value of this forest – known as the Economic Value to the Nation or EVN – is estimated to be the equivalent of an annual annuity payment of US $580 million.”

Of course, a successful Strategy has implications for every sector of the present economy connected to our forests. It is perhaps only coincidental that another national daily published yesterday, the eve of the launch of the “Low-Carbon Economic Development Strategy”, an article based on a recent interview with the Executive Director of the Guyana Gold and Diamond Miners Association (GGDMA), Mr. Edward Shields. According to Mr. Shields, the mining sector registered an excellent performance during the first four months of the year, providing the state with revenues totaling approximately $1 B. Mr. Shields cited the fact that gold has consistently outperformed the former mainstay of Guyana’s economy, sugar, for the past five years, adding that the sector’s contribution to Guyana’s economy is often under-appreciated. The article also touched on the GGDMA’s increasing focus on the environment (an area the sector has traditionally been graded poorly on), its importance to related industries, and the high employment in the sector.

Indeed, one of the major questions on the minds of many of the participants in today’s Conference – particularly those in the mining, timber and agriculture sector – is not going to be about compensation for the preservation of forests, but for the compensation for those whose livelihoods depend, frankly speaking, on deforestation. In short, if green is going to successfully become the new gold, what is going to happen to those whose income is derived from the exploitation of the old gold?

It is good therefore that today’s session is not simply the launch of a draft strategy, but the beginning of a consultation process, one that is hopefully going to have as wide and effective participation as is necessary for moving forward on this crucial initiative. Whatever the outcome of the process, however, what should be clear is that this cannot be, and should not be seen as, a referendum on the viability of this initiative. This is about finding the best way forward on what is a set revolutionary path.