Wildlife Conservation Society congratulates Guyana on issuing world’s first carbon credits
See full statement from Wildlife Conservation Society:
WCS congratulates Guyana on the issuance of the world’s first credits from the REDD+ Environmental Excellence Standard (TREES), marking the first time a country has been issued carbon credits specifically targeted at voluntary and compliance carbon markets for successfully preventing forest loss and degradation. These credits also represent the first time that a jurisdiction with high forest cover and low rates of deforestation, also known as High Forest Low Deforestation (HFLD), has the potential to access carbon market finance at scale.
Guyana is one of the most forested countries in the world, with around 85% of the country covered by vast expanses of high integrity or intact forests. Guyana’s credits are the culmination of over a decade of commitments and collaborative efforts to pursue a Low Carbon Development Strategy through incentives from jurisdictional REDD+. Its TREES credits, independently validated and verified against the Architecture for REDD+ Transactions (ART) TREES standard and conforming with rigorous environmental and social safeguards, can help enable Guyana to strengthen stewardship of its forests and contribute to meeting global climate goals while pursuing economic security and prosperity for all Guyanese.
“This is huge. Guyana’s issuance of the world’s first market-oriented jurisdictional REDD+ credits through the ART TREES standard is a testament to its commitment to pursuing equitable economic development through the safeguarding its forests. We must prioritise global support for countries and jurisdictions that follow this approach” said Joe Walston, Executive Vice President for WCS Global Conservation.