Over 500 projects underway from carbon credits in Amerindian villages

…shade houses, guest houses for tourism among projects

Over 500 projects that run the gamut from tourism to agriculture, are currently being pursued from the $4.7 billion that was given to hundreds of Indigenous villages as part of their share from the US$150 million carbon credit sale.
This was revealed by the Office of Vice President, which highlighted the successes of the carbon credit initiative and how it is making a difference in the lives of Indigenous residents. According to the office, these projects are transforming village livelihoods and are being led by the Amerindian people themselves, who would have had to come up with plans for spending the money.
“Currently, over 500 projects are being implemented at village level, led by Amerindian people. Projects that are being financed include priorities as varied as building shade houses, improving local guesthouses for tourism.”
“Supporting cassava farming, providing craft classes, and purchasing village tractors. These projects, financed by carbon credits revenues, are transforming village livelihoods through climate adaptation and resilience actions,” the office said in a statement.

Over 240 Indigenous villages had received a share from the $4.7 billion (US$22.5 million), which is 15 per cent of the US$150 million initial payments from the sale of Guyana’s forest carbon credits to Hess Corporation.
This publication has carried out a number of interviews with village leaders, where they have explained how the monies from the carbon credit initiative were being used. For instance, in the Region Seven (Cuyuni-Mazaruni) village of Batavia, the Toshao, Orin Williams, had told this publication that the village is putting its carbon credit allocation towards developing its tourism products.
“Now that we’re actually working on our ten-year village plan, at the first stage, we’re now preparing major projects. We’re doing projects presently to put the village into the first phase of establishing a tourist resort,” the village leader said.
“An eco-tourism site within our village here. With the neighbouring communities, we can all join together. Because close to my village is the White-Water resort, which is very close to Bartica. So, by working together with them also, it can even make things easier for people to enter into the village,” the Toshao had said, during an exclusive interview with this publication in September.
In June, this publication had reported that the Central Rupununi Village of Moco Moco, nestled near the Kanuku Mountain Range in Region Nine (Upper Takutu-Upper Essequibo), intends to utilise its $24 million carbon credit grant to boost economic activities in the community through the opening of a supermarket and an Industrial Arts Centre. Other plans for the community are: an upgrade of its Youth Centre, and construction of a building to host community meetings.
Toshao George Thomas had told this publication back in June that the village had at the time only recently submitted its plan to the relevant authorities for approval, after which the sums are expected to be released so community leaders can embark on the projects.
Further, he had outlined that the Industrial Arts Centre would feature skills training such as joinery and welding. It would also facilitate meetings under better conditions, and the mini supermarket would aid in teaching youths about business, as well as letting them earn an income so they can offset personal expenses.
Hess Corporation, which is one of the partners operating in the Stabroek Block offshore Guyana, had agreed to buy 2.5 million credits per year for the period 2016 and 2032, valuing US$750 million.
The 33.7 million credits being sold to Hess Corp is just 30 per cent of the carbon sink contained in Guyana’s vast forest cover. The country’s more than 18 million hectares of forests are estimated to store approximately 20 billion tonnes of carbon dioxide equivalent. The remaining 70 per cent of Guyana’s carbon credit will be put on the market for future sale agreements.
The total initial money received from the carbon credit agreement with Hess is expected to total US$150 million by the end of 2023. Last week, it was announced that Hess Corporation has entered into an agreement to merge with Chevron. Vice President Bharrat Jagdeo has, however, assured that Hess’ preexisting agreement with Guyana will not be affected by the merger.