–President Ali says, highlights need to ‘multiply possibilities’ outside of business investments

GUYANA’S local private sector has been called upon to play a greater role in climate action and to recognise that their aim should not be centred solely on making profits.

Making an appeal for investments beyond ‘business pumping profits,’ President Dr. Irfaan Ali during a recently held energy insights event hosted by the Georgetown Chambers of Commerce and Industry (GCCI), acknowledged the role the local private sector plays in propelling the country’s transformation, while highlighting investments being made in various industries. However, he noted that there is a need to multiply possibilities.

And one such area that could see greater partnership is climate action.

“The private sector must be a partner in climate action, in community upliftment, in innovation, in nation building. Business is not just about pumping profits. It’s about multiplying possibilities. And today I want us to focus in your own discussions on how we multiply the possibilities and opportunities with our investments,” President Ali said.

He reminded his audience that while Guyana is building on its oil wealth, the barrels of oil already pumped is just one part of the equation in building a sustainable and resilient nation. He pointed out that this wealth is a catalyst for true development.

“The beating heart of any economy is the business community. Oil is opening doors, yes, but we must not be content with simply walking through those doors; we must build new ones,” the President added.

President Ali also recently reiterated the country’s call for accelerated unified global action to limit global warming at the 80th United Nation’s General Assembly.

He emphasised that Guyana has made significant gains in implementing and pursuing climate action policies and agendas.

“We continue to match our words with actions, protecting our forests, investing in sea
and river defences, improving drainage and irrigation, and restoring mangrove ecosystems to protect our people, our land, and our livelihoods and our planet.”

Reaffirming Guyana’s commitment to climate action, President Ali highlighted the country’s Low Carbon Development Strategy 2030, its leadership under the REDD+ Environmental Excellence Standard, and its success in the carbon credit market. He underscored that economic growth and environmental responsibility can advance hand in hand, and that “nature has tangible value” which must be rewarded.

In addition to environmental leadership, the President stressed the urgent need for renewed financial commitment to development, including fulfilling Official Development Assistance pledges and addressing unsustainable debt burdens that limit progress in developing nations.

He also drew attention to Guyana’s role in hosting the inaugural Global Biodiversity Alliance Summit in July 2025, which convened over 140 countries and institutions. The resulting Georgetown Declaration called for biodiversity to be treated as a global public good, fully integrated into climate strategies and financial frameworks.

“We call on the international community to deliver predictable, accessible climate finance, to support adaptation and resilience, and to embrace nature-based solutions,” President Ali told the UN.

Building on the global pledge to double protected areas by 2025 and achieve the ’30 by 30′ goal by 2030, President Ali said the summit underscored the importance of innovative financing tools such as biodiversity credits, green bonds, and debt-for-nature swaps.

Guyana, he added, is actively pursuing these avenues to generate sustainable income for forest communities and strengthen biodiversity protection.

A recent partnership with the Yale Center for Biodiversity and Global Change will see the development of a National Biodiversity Information System, enabling more effective, data-driven conservation planning.