‘We are not changing our commitment to forests, biodiversity’ – President Ali tells Clinton Global Meeting

President, Dr Mohamed Irfaan Ali has affirmed his government’s commitment to the preservation of Guyana’s rich biodiversity while also ensuring his nation stands firm on the path of development.  

The head of state on Friday participated in the Clinton Global Initiative Annual Meeting 2024 “Fireside Chat” in New York where he took the opportunity to once again emphasise the economic and environmental advantages of the Low Carbon Development Strategy (LCDS 2030).

President Ali reiterated Guyana’s commitment to doubling the preservation area for biodiversity in the next 18 months and achieving the ultimate global biodiversity target of 30 per cent by 2030.

“We are on track to achieving the 2030 goals in terms of safeguarding biodiversity assets,” he asserted.

Pointing out that Guyana’s forest stores 19.5 gigatons of carbon and sequesters 153 million tons of carbon annually, the president said that even with maximum offshore oil and gas operations, Guyana would not utilise more than 20 per cent of the carbon it sequesters.  

“If the world decides by 2050, we are only going to use 25 or 30 or 40 percent of our energy from petroleum product, then you have to decide who will produce it. And if you’re going to ask that question from a morally correct perspective, it has to be who will produce it in the least polluting environment, and who would produce it with the least damage to the environment,” the president elaborated.

He also underscored that Guyana’s proven track record in forest conservation, exemplified by its remarkably low rate of deforestation, makes it a prime example of a successful model. This accomplishment positions Guyana as an ideal candidate for future initiatives in this area, he said.

“You have a country that is keeping its forest, the lowest deforestation rate in the world, committed to keeping this for the planet, safeguarding our biodiversity, expanding the mechanism through which we can safeguard that,” he said.

Earlier this week, the president announced the launch of a Global Biodiversity Alliance, which seeks to unite biodiversity-rich countries to develop a scalable model for environmental protection.

An inaugural Global Biodiversity Alliance Summit is scheduled to be held next year.

The initiative expands on the Low Carbon Development Strategy (LCDS) 2030, with the aim of developing innovative financing instruments for biodiversity preservation.

President Ali explained that the LCDS is not only a climate model, but it is also an economic model geared at improving livelihoods, expanding the economy and leveraging climate and ecological services for the global and national benefit. 

Guyana has already achieved significant progress in its climate action. Since the launch of its Low Carbon Development Strategy (LCDS) 2030, the country’s commitment to preserving its intact forests and biodiversity corridors has led to innovative climate finance initiatives, such as the monetisation of carbon credits.

In fact, Guyana has secured a US$750 million contract for carbon credit sales, with a portion of these funds allocated directly to creating jobs, lifting people out of poverty and sparking sustainable development in hundreds of indigenous villages.