LCDS 2030 will be finalised in a matter of weeks – Jagdeo

…responses from countrywide consultations still being analysed

The expanded Low Carbon Development Strategy (LCDS) 2030 will be finalised in a matter of weeks, Vice President Bharrat Jagdeo recently announced.
He assured that once completed, the Government will approach the National Assembly to have the document debated.
Speaking to reporters during a press conference, the Vice President said the Administration is receptive to every suggestion being made by citizens regarding the LCDS 2030.

Government has been hosting several outreaches to solicit views from the public regarding the expanded LCDS.
According to the Vice President, the Government is currently analysing the data it has received and will sort through the suggestions to determine which can add value to the strategy.
“We’re hoping to finalise, maybe in a matter of weeks, because we have rolled out a consultation strategy across the country, in the Indigenous communities, in the region, etc. We have quite a few comments that we’re processing now, to see how we can improve what we have for the better. And so, we are taking each suggestion seriously,” Jagdeo said.
“We anticipate that as soon as we complete this, the Parliament would have a look at it and debate it. But we’re very worried about the mindset of the Opposition. They are very negative on everything. Simultaneously, you know we are working to get our forest carbon on the market and to try to maximise the benefits we receive from our forest carbon credits,” he added.
The LCDS 2030 seeks to create a new low-carbon economy in Guyana by establishing incentives which value the world’s ecosystem services, and promote these as an essential component of a new model of global development with sustainability at its core. In Guyana’s case, it is about harnessing the value of the country’s ecosystem services to build a long-term, low-carbon diversification opportunity.
Meanwhile, the Vice President at his recent press conference, spoke about the money remaining from the Guyana REDD+ (Reducing Emissions from Deforestation and forest Degradation) Investment Fund (GRIF). A total of US$250 million was to be paid to Guyana over a five-year period by Norway and it is understood that as of January US$54 million remained in the fund.
“I had a meeting with the Norwegian Ambassador and the officials who came here. We spoke about the model building and the future ways of intermediating these resources in a less bureaucratic manner without harming the transparency in the use of the resources for future.”
“And we’ve also indicated our intention to utilise the remaining programme sum for adaptation measures. And that is why we’ve launched these consultations across Regions Two, Three, Five and Six, where we’re looking at structures similar to what we did at the Hope Canal,” Jagdeo explained.
Jagdeo also spoke about the developed world and their attitude when it comes to creating a market for the sale of carbon credits. According to him, the developed world has a responsibility to create the incentives for such products from the developing world, as the fate of the world and carbon emission targets hang in the balance.
“This is only right and just, given that the world pays nearly $90 per ton for carbon in another part of the world. And they’re unwilling now, to even guarantee a price of $10 for forest carbon. And a ton of carbon from whatever its source, or wherever in the world its emitted, has the same impact on global warming.”
“So, our argument is that the developed world has to start creating incentives and markets for products supplied by the developing world. They can’t want to treat developing world mitigation solutions as though it could be solved through philanthropy or good will, as they did in COP26 when there was just a declaration without allocation of resources, to say deforestation must end by 2030,” he explained.
Jagdeo noted that deforestation and land use change contribute 16 per cent of total greenhouse gases. As such, he noted that the world would never achieve net zero if these primary sources of emissions aren’t addressed.
A carbon credit is a tradable permit or certificate that allows the holder of the credit the right to emit a stated tonnage of carbon dioxide or an equivalent of another greenhouse gas. Countries and companies that exceed their permitted limits can purchase carbon credits from other nations that have low emissions such as Guyana. Guyana’s 18.4 million hectares of largely pristine forest stores approximately 5.31 gigatons of carbon.