-hopes to fast track release of climate financing
Guyana is hoping to influence the developing world to argue the case for hasty disbursement of the resources pledged to them when it assumes the role of co-chair to the Interim Reduced Emissions from Deforestation and Forest Degradation (REDD) + Partnership with Germany. President Bharrat Jagdeo told officials from over 35 countries in the Amazon, Congo and Borneo-Mekong regions gathered at a special summit for rainforest countries in the Republic of Congo that the position as co-chair will take effect from July 1.
The REDD+ Partnership is an interim initiative for partnerships among countries to scale up actions and finance for initiatives to reduce emissions from REDD+ in developing countries with the focus on support for developing capacity building and performance-based REDD+ efforts, based on individual national circumstances.
Under the agreement, meetings will be co-chaired by one developing and one developed country partner representative, both selected for non-renewable terms through an inclusive and transparent selection process.
The co-chairs are obliged to report to the partnership, and be responsible for soliciting and communicating partner views, tasking secretariat services based on guidance from the partnership, and proposing meeting agendas to the partners for approval. When appropriate, co-chairs may draw support from the former and upcoming co-chairs.
“We have to go into this partnership first of all… to ensure that the resources that are pledged don’t just remain pledges, that they are disbursed to our countries,” President Jagdeo said, assuring that Guyana will make every effort to represent the interests of the developing world.
At the conclusion of the 16th Conference of Parties of the United Nations Framework Convention on Climate Change (UNFCCC) in Copenhagen, an accord was signed with a pledge of US$10B for fast-start funding per annum.
The pledge was described by President Jagdeo as among the few successful outcomes of the Copenhagen summit; however, he lamented that aspects of the developing world most affected by climate change, such as the Caribbean, are yet to see the flows materialise.
“We don’t see any evidence of this disbursement. I come from the Caribbean and there are 15 countries in CARICOM, 10 are considered the most vulnerable to climate change because of hurricanes etc… and not a cent has reached any of those 15 countries for adaptation. We are part of South America and not a cent has reached any part of South America pledged in Copenhagen for mitigation purposes. So where is this money going?” President Jagdeo asked
Guyana has thus far acquired US$70M through payments received from the world’s second largest forest climate services arrangement with Norway, and has been able to transition the economy on the low-carbon trajectory envisioned by President Jagdeo.
In April last year, Guyana and Germany signed an agreement for an additional five million Euros (equivalent to G$1.36B) available to fund the protection of one of the most important ecosystems of the world.
This second agreement took Germany’s financial support for Guyana’s tropical rainforest up to 8.1 million Euros (equivalent to G$2.2B) to cover existing protected areas, as well as secure the establishment of new, protected areas which will be the initiatives under which the funds will be directed.
The Guyanese Head of State is dissatisfied with the rate at which the funds are released, pointing a finger at financial intermediaries such as the World Bank and the Inter American Development Bank (IDB) responsible for the disbursement.
“The money now sits in an account and for almost a year we are trying to get this money flowing for projects in Guyana. This is money we already earned… and I dare say one of the things that we have to, work on too, as a developing world, not just to get money to flow to forested countries, but to ensure that these development institutions… also see this with a sense of urgency,” President Jagdeo said.
The Guyanese Head of State strongly believes that forested countries are making  conscious efforts to preserve their natural resources, but doubts that the momentum will last unless the developed world recognises this and engages in a true partnership, which means supporting financially.
He pointed to the alternative developing countries may turn to, of cutting trees for land to plant soya beans, rice or cattle rearing, as there is the temptation to do so.
The summit for tropical forest countries in the Republic of Congo ended with leaders from countries in the Amazon, Congo and Borneo-Mekong basins signing a declaration for the protection of their forests and President Jagdeo being appointed roving ambassador to the forest basins. (GINA)