President Irfaan Ali has reiterated his government’s unwavering commitment to preserving the nation’s rich biodiversity while advancing its development agenda.
Speaking during a “Fireside Chat” at the Clinton Global Initiative Annual Meeting 2024, President Ali highlighted the economic and environmental benefits of the Low Carbon Development Strategy (LCDS 2030).
During the session, President Ali announced plans to double the area designated for biodiversity preservation over the next 18 months, with a long-term goal of achieving the global biodiversity target of protecting 30 per cent of natural habitats by 2030.
“We are on track to achieving the 2030 goals in terms of safeguarding biodiversity assets,” he asserted.
Emphasising Guyana’s significant environmental resources, the President noted that the country’s forests sequester an impressive 153 million tons of carbon annually, contributing to a total carbon storage of 19.5 gigatons.
He affirmed that even with extensive offshore oil and gas operations, Guyana would only utilise a maximum of 20 per cent of its sequestered carbon.
“If the world decides by 2050, we are only going to use 25 or 30 or 40 per cent of our energy from petroleum products, then you have to decide who will produce it. And if you’re going to ask that question from a morally correct perspective, it has to be who will produce it in the least polluting environment, and who would produce it with the least damage to the environment,” President Ali explained.
Highlighting Guyana’s successful track record in forest conservation, he pointed out the nation’s remarkably low deforestation rate, positioning it as a model for sustainable practices.
“You have a country that is keeping its forest, the lowest deforestation rate in the world, committed to keeping this for the planet, safeguarding our biodiversity, expanding the mechanism through which we can safeguard that,” he said.
Earlier in the week, President Ali announced the establishment of a Global Biodiversity Alliance, aimed at uniting biodiversity-rich nations to develop scalable models for environmental protection. An inaugural summit for this initiative is set to take place next year.
This alliance builds on the principles of the LCDS 2030, focusing on innovative financing solutions for biodiversity preservation. President Ali described the LCDS as not merely a climate initiative but also an economic strategy designed to enhance livelihoods, stimulate economic growth, and maximise climate and ecological services for both global and national benefits.
Since the launch of the LCDS 2030, Guyana has made significant strides in climate action, committing to the preservation of its forests and biodiversity corridors.
This commitment has led to innovative climate finance initiatives, including the monetisation of carbon credits. Notably, Guyana has secured a US$750 million contract for carbon credit sales, with funds earmarked for job creation, poverty alleviation, and sustainable development in numerous indigenous communities.
As President Ali continues to advocate for a balanced approach to development and conservation, Guyana stands at the forefront of global efforts to combat climate change while fostering sustainable economic growth. [Extracted and modified from DPI]
