Indigenous communities to benefit from 900 carbon credit-funded projects this year

Some 900 carbon credit-funded projects are expected to be launched this year, aimed at empowering Indigenous communities, following a successful run of 800 projects last year.
These initiatives, driven entirely by the villagers and their leadership, are poised to create significant economic opportunities in the 242 Amerindian villages involved.
The funding structure of the Guyana Government’s multi-year agreement with Hess Corporation, ensures that 15 percent of the carbon credit revenues go directly to the communities, allowing them to manage and execute projects that reflect their needs.
According to Vice President Dr. Bharrat Jagdeo, over the past two years, a total of approximately 1,700 projects would have been implemented.
In contrast to the lengthy timelines often associated with multilateral agency projects, which can take years to yield results, Jagdeo noted that through the multi-year agreement, Amerindian communities are demonstrating their capability to swiftly enhance land tenure security in these communities, by accelerating land titling activities, among others.
“If we had gone through, and I don’t like to be critical of the multilateral agencies, but sometimes funds intermediated by, say, the UN system or many others, to do 10 projects in these villages sometimes would take four or five years. We’re going to get 1,700 projects done in two years, managed entirely by the villagers themselves and their leadership. And the funds are transforming the lives of those communities,” Dr Jagdeo said.
The Vice President explained that the remaining 85 percent of the carbon credit funds are being allocated to a special fund, which he noted are audited separately to ensure transparency and accountability.
“The 85% that remains, we’re keeping in a special fund to be audited separately. And now we’re funding an entire adaptation process across the country that would see about 40 new mobile pumps bought this year, another 20 pumping stations with 39 pumps installed, canals to take the water directly from the backlands, bypassing the villages directly into the Atlantic, a whole program that would help to solve one of the biggest vulnerabilities we have, which is flooding and managing water,” he explained.
In 2024, the Guyana Government distributed a historic $4.778 billion in carbon credit funding for the development of Indigenous communities.
An additional sum of $35 million was later allocated to small groups that had submitted developmental plans to the ministry with the aim of boosting economic activities within the various areas.
The funds are disbursed through a Village Council system, wherein the funds for each village are deposited into a special bank account owned by that village, and the Community Council oversees how the funds are spent.
The funds are spent based on collective decisions made by the village, with a Financial Oversight Committee ensuring proper usage of the funds.