ARE GUYANA’S FORESTS ASSETS OF  MORE LONG-TERM VALUE THAN OIL? 

SINCE the 1960s, there have been three Guyanese who have had the distinction of attracting the attention of news anchors and journalists worldwide: Dr Cheddi Jagan during the turbulent times of the Cold War;  Dr Bharat Jagdeo in the ecological explosion and his innovations for Third-World debt elimination and Dr Mohamed Irfaan Ali, Guyana’s sitting President, for his brilliant defence of Guyana as a miniscule climate-change agent and a massive carbon sink with its forests absorbing 19.5 gigabytes of Co2.

President Ali’s memorable interview with the BBC’s Hard Talk’s Stephen Sakur, where he deflated the arrogance of the presenter and convincingly explained to the world the necessity for Guyana’s oil industry and its minimal effect on climate change and also Guyana’s forests being consciously maintained as one of the world’s notable carbon sinks, went viral.  The BBC interview focused on oil, so the President did not have the opportunity to speak about the forests.  In this offering, we will therefore focus on the forests.

Over 85% of Guyana’s land mass is forests — covered with a very low deforestation rate of less than 1%.  The Guyana forests could be classified into six types – rainforests (36%), montane forests (35%), swamp and marsh (15%), dry evergreen (7%), seasonal forests (6%) and mangrove forests (1%) and all life on Earth has a relationship to forests.

Forests influence the quality and quantity of water essential for sustaining life and for activities such as agriculture and energy production.  Over 25% of pharmaceutical medicines are derived from rainforest plants, and this is only from 1% of the forests so far researched – it is quite likely that as more research is done, the number of health-giving medicines will grow. In developing countries, the use of plant-based medicines, “folk medicines”, is about 80%. Long tradition and scientific studies have shown that contact with nature positively influences human mental and physical well-being, boosts the immune system, lowers blood pressure, and promotes relaxation.   Though mangroves are linked with the Low Carbon Development Strategy 2030, they are much more than that in that they are a part of the sea defences and provide a habitat and breeding ground for many types of fish and birds. Forests also provide a home for various indigenous peoples and provide jobs such as logging, carpentry and tour guides.

Forests harbour over 80% of terrestrial biodiversity. Guyana’s rainforest is particularly rich in this regard and is home to many endemic plants and animals, such as the giant river otter and the jaguar.
Forests face many threats, including deforestation, climate change and unsustainable forest-management practices. The Guyana Forestry Commission (GFC) is taking measures to meet these threats; we will mention some of these measures:  the Yarrowkabra Forestry Training Centre on the Soesdyke – Linden Highway is educating members of the Youth in Natural Resources (YNR) on reafforestation, forest conservation and biodiversity.

The centre has also launched a seedling station.  In addition, a $900 million revolving fund to boost the forestry sector has been established.  The GFC  uses technology in its work in forestry management. An example of this is the Monitoring, Reporting and Verification System (MRVS), which enables the country to monitor its forest resources and, through satellite images, to monitor and report forest changes.   The GFC has been engaging with International bodies regarding the certification and recognition of Guyana’s forests.  For example, it has engaged with the European Union Forest Law Enforcement Governance and Trade (FLEGT) Voluntary Partnership Agreement (VPA).

A stepwise legality system is being developed, and a FLEGT licence will eventually be issued to qualified forest-sector stakeholders.  Once mutually recognised, Guyana’s forest-sector operators certified under the Guyana system could leverage international credibility to market their wood products globally as legally sourced and sustainably produced.  This enhances access to global markets for Guyanese wood products.  Additionally, these activities by the GFC have resulted in Guyana earning several hundred million dollars as carbon credits from Norway and the Hess Corporation. Guyana’s forest assets will continue long after the oil resources have been exhausted or the price of oil has fallen so low that it is barely profitable.

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