Small States need greater access to financing – Ali tells UN Roundtable

….if Paris climate accord, sustainable development goals to be achieved

President Dr Irfaan Ali has warned a United Nations Roundtable on the extractive sectors that greater access to financing from the global community is imperative for small States such as Guyana, if the ambitious goals of the Paris climate accord and Sustainable Development Goals (SDGs) are to be realised.
During his virtual address to the Roundtable, President Ali said that the success of Guyana’s efforts would depend on the degree of international support it received when it came to financing for development and climate action. Guyana, he noted, is similar to other small States in this regard.

“Without greater access to financing, efforts by small States to meet their commitments under the Paris Agreement on climate change and the Sustainable Development Agenda will be derailed,” President Ali said.
“Guyana, therefore, takes this opportunity to reiterate its appeal for the full implementation of the Addis Ababa Action Agenda of the Third International Conference on Financing for Development; greater grant-based financing for adaptation, and the establishment of a Climate Change Vulnerability Fund and greater ambitions under the National Determined Contributions of the Paris Agreement on climate change,” the Head of State declared.
The President also urged that the REDD+ (Reducing Emissions from Deforestation and forest Degradation) mechanism be operationalised so that Guyana could continue trading in carbon credits.
This is a programme that Norway established via an agreement with Guyana in 2010. According to the programme, Norway agreed to pay Guyana US$250 million over a period of time for maintaining its low deforestation rates.
“The extractive sectors are pivotal to the post-pandemic recovery. I do believe that there is a model for sustainably developing these sectors in a manner that would contribute to mitigating climate change. I wish to share with you, briefly, one such model which Guyana is pursuing,” President Ali said.
“For many small States like my country, Guyana, the extractive sectors remain an important economic lifeline. They are vital sources of investment, growth, and foreign exchange to support the livelihoods of large numbers of our citizens. Nevertheless, we also recognise the imperative of mainstreaming environmental protection and sustainable practices within those sectors.”
The President also noted that Guyana’s Low Carbon Development Strategy (LCDS) prioritises actions and “aims to transform Guyana’s economy on to a low-carbon, sustainable-development trajectory, while simultaneously combating climate change”. He explained that by Guyana adopting this strategy, local forests would continue to provide environmental services to help in mitigating climate change.
“The LCDS promotes the sustainable development of our extractive sectors in order to ensure low levels of deforestation and forest degradation. The Strategy is an example of the type of action being taken by small States to help reduce their carbon footprint and provide the world with environmental and ecosystem services whilst fostering sustainable development.
“The convening of this Roundtable is an acknowledgement of the importance of the extractive sectors to global recovery. With the support of the international community, including the United Nations system, the extractive sectors can provide the surety that post-pandemic recovery does not derail sustainable development or the efforts to stem the climate crisis.”
The People’s Progressive Party/Civic (PPP/C) Government is presently aiming to implement Phase Two of the LCDS. As such, it has been re-engaging the Kingdom of Norway, which was the source of the funds with which Guyana planned to implement various developmental projects, including the Amaila Falls Hydropower Project.
Natural Resources Minister Vickram Bharrat had confirmed in March that Government had already re-engaged Norway to start Phase Two of the LCDS, which had been replaced by the Green State Development Strategy (GSDS) by the former A Partnership for National Unity/Alliance For Change (APNU/AFC) Government.
At a press conference last year, Vice President Bharrat Jagdeo had said the LCDS would be the main document guiding the country’s climate actions. He had also said that the LCDS would be expanded in the areas of biodiversity, water management, and other sectors.
Jagdeo had added that the Government was creating a coordinated and efficient mechanism to deal with all climate and environment-related issues. In this regard, the Government had merged the Office of Climate Change and the Department of the Environment.