CELAC can play “pivotal role” in region’s climate change, energy & food security – Pres. Ali

– says CELAC must also galvanize advocacy for the forests

During his address to the VIII Summit of the Community of Latin American and Caribbean States (CELAC) in St Vincent and the Grenadines, President Dr Irfaan Ali underscored the important role CELAC can play in ensuring the climate, energy and food security of the region.

The Guyanese Leader, who is also the current Chairman of the Caribbean Community, pointed out that climate change and extreme weather conditions, as we are aware, have begun to put the world’s food production and global food security at risk; and this situation has been worsened by the effects of the COVID pandemic.
“CELAC can play a pivotal role in seeking to address issues that impact the sustainable development of the region, just as climate change, energy security and food and nutrition security. Climate change and extreme weather conditions, as you’re aware, have begun to put the world’s food production and global food security at risk.
The prognosis has been made worse by the effects of the pandemic. Guyana, as the lead in Caricom on this initiative, continues to advocate for food and nutrition security in the region. My government welcomes collaborative efforts and partnerships in the retooling efforts to build the necessary capacity to meet the rising need for expertise in advancement of this sector,” the Head of State detailed.

President Ali extended his call for CELAC advocacy to also be in the arena of forest management and the REDD+ (Reducing Emissions from Deforestation and Forest Degradation) concept. Moreover, he revealed that Guyana had been invited by Brazil to present its forest preservation model to the G20, and added that Guyana would be willing to make a similar presentation to CELAC.
“I believe that CELAC must galvanize its advocacy for the sustainable management of forests and the conservation and enhancement of forest carbon stocks, REDD+ processes, and other policy approaches, as decided by (COP),” he said. “Therefore, (Guyana is) most appreciative of the invitation extended by His Excellency President Lula daSilva for Guyana to present to the G20, in July of this year, our model for the preservation of the forests — a model that Guyana would be happy to present to member states of CELAC at the earliest possible opportunity.”
The Group of Twenty (G20) comprises 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom and the United States, and two regional bodies: the European Union and the African Union.
The G20 members represent around 85 per cent of the global Gross Domestic Product (GDP), over 75 per cent of the global trade, and about two-thirds of the world population. The 2024 G20 summit is slated to take place at the Museum of Modern Art in Rio de Janeiro, Brazil in November.
In 2022, Guyana signed a contract with Hess Corporation which saw the nation earning US$750 million for 30 per cent of its forest. In that agreement, a rate of US$15 per tonne of carbon was secured, and so far, 15 per cent ($4.7 billion) has been allocated towards Amerindian development.
Already, more than 500 projects that run the gamut from tourism to agriculture are currently being pursued utilizing the $4.7 billion which was given to hundreds of Indigenous villages as part of their share of the US$150 million carbon credits sale.
In addition to its rich biodiversity and ecosystem, Guyana’s total forest cover of some 18.4 million hectares stores more than 19.5 gigatonnes of carbon, and removes some 154 million tonnes of carbon dioxide from the atmosphere annually.
This week, it was announced that Guyana has been issued with 7.1 million carbon credits dating back to 2021, marking it the first time that carbon credits have been issued that can be used by airlines to meet their carbon emission targets for the 2024-2026 period. The credits have been issued by the Architecture for REDD+ Transactions (ART).
In 2023, it was revealed that Guyana has the potential to raise at least US$2.5 billion from its carbon credits over the next 10 years. According to Vice President Bharrat Jagdeo in a presentation at COP28, this can be done by tapping into favourable market upsides. (G-8)