–WWF Country Manager says

THOUGH Guyana has its burgeoning petroleum sector, the country has been a longstanding beacon of “green” development, and Country Manager of WWF Guyana, Aiesha Williams says that incentives for businesses opting to integrate renewable energy sources are necessary.
“There’s one thing in talking about renewable energy, but creating the right atmosphere; creating the enabling environment, especially for businesses in the country is very important,” Williams said in a recent interview with the Guyana Chronicle ahead of today’s presentation of the National Budget.

Incentives for the private sector have been a central component of the current government’s emergency budget, which was presented shortly after taking office last year. Such incentives are seen as necessary to stimulate investments and business activity, and Williams is of the opinion that incentives for renewable energy will encourage more businesses to add to sustainable development efforts.

The Country Manager reasoned that investing in renewable energy carries a cost, and if businesses are willing to make that investment in a bid to transition to more sustainable practices that are better for the environment, supporting systems should be in place. Fiscal incentives can include exemptions for Value Added Tax (VAT) and import duty on renewable energy equipment and appliances.

Additionally, Williams noted that supporting legislation could be introduced to allow for the excess renewable energy which may be produced by a business to be supplied to the national grid.

“There are small-islands that are going down this route in the Caribbean, and allowing ordinary people to really move towards renewable energy… We should look towards this, so that more persons; more Guyanese homes and businesses can find ways of investing into renewable energy,” she emphasised.

She also noted that globally, there is a shift towards renewable forms of energy, whether solar, wind or hydropower. Bloomberg Green, in 2020 reported that indeed, while the pandemic caused a ‘slowdown’ in the use of non-renewable forms of energy such as oil, the use of renewable energy was on the increase.

Commenting on whether Guyana’s oil-and- gas developments signal any departure from Guyana’s commitment to “green”, sustainable development, Williams pointed out that the local development drive and “green” development are not mutually exclusive.

This, according to her, means that it is possible for Guyana to pursue sustainable ways of exploiting its natural resources. However, she cautioned that environmental and social safeguards are crucial components of sustainable development. These would include ensuring that the environment and local ecosystems are not irreparably damaged, and that people are central in the decision-making platforms.