GUYANA has been appointed by the Commonwealth secretariat to develop a framework on climate change and forest preservation.
This was according to President, Dr. Irfaan Ali, during a press conference at State House, on Saturday.
The Head of State told reporters that the country will join Gabon, a country along the Atlantic Coast of Central Africa, to develop a “blueprint” that global leaders could mirror.
Guyana will be participating in the upcoming United Nations Climate Change Conference/ Conference of the Parties of the UNFCCC also known as COP 28. The country is expected to host a side event at the major conference.

“Guyana has been appointed by the Commonwealth Secretariat to help build among heads of government, consensus on the sustainable and regenerative use of natural resources to develop a blueprint for carbon credit, forest protection, and a coherent and consensual approach to the COP 28… Guyana and Gabon are leading efforts in this area.
“This event will be attended by many global leaders and major financial institutions, including multilateral institutions. The government will continue to put environmental preservation at the heart of what we do; this will never change,” the Head of State added.

The country will be presenting on key issues, which include climate services, climate financing, advancing on development of the carbon market, and advancing operations in the loss and damage fund.

However, President Ali expressed some concerns over the recent coup d’état that occurred in the African nation of Gabon.
He hopes that the recent events do not hinder the country’s effort in forestry preservation, noting: “We don’t want that to affect its environmental protection efforts. We are more than willing to help them to continue the preservation path.”

Regarding its efforts to support the Caribbean region, Guyana, Dr. Ali said, intends to further lobby for more financing for the region, especially as it relates to the ongoing works to preserve its forested lands.

“We want to develop countries to deliver on their commitment to provide $100 billion to the developing countries; and that they should show signs of accelerated pledge to make up for the shortfall in prior years,” the Head of State said.
The country will also be pursuing major emitters to develop robust and ambitious climate-smart policies to cut down emissions, as well as take action to limit temperature rise to 1.5 degrees Celsius.

Efforts will also be made to make adjustments to the carbon credit market. These will include advancing operations of the loss and damage fund as well as establishing one clear identification to collect, fill the fund and disburse resources.

“We are building a sustainable, resilient and competitive Guyana in a world 2030 and beyond. That will position Guyana ahead of time,” Dr. Ali said.
According to the United Nations, this year’s conference will see the 28th session of the Conference of the Parties (COP 28), the 18th session of the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol (CMP 18), and the fifth session of the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (CMA 5).
Guyana’s forests store approximately 19.5 gigatonnes of carbon. The country recently became the first nation to be issued TREES credits.

In simpler terms, the country can now earn money from its forest through the sale of carbon credits.
This marked a milestone as it was the first time a country was issued carbon credits specifically designed for the voluntary and compliant carbon markets for successfully preventing forest loss and degradation — a process known as jurisdictional REDD+.

Already, over 200 Indigenous communities in Guyana have begun benefitting from the sale of those carbon credits.