PARAMARIBO – SURINAME: Forest conservation will remain central as the country advances with offshore oil and inland projects, Oil, Gas & Environment Minister Patrick Brunings said on September 3, ahead of a Council of Ministers meeting.
Our goal is to keep our forest cover above 90%”, Minister Brunings explained. Brunings said he recognizes the challenge between nature conservation and economic development. He added, “But the government has a promise that in addition to economic development, it will work to preserve the forest.”
Within the next two weeks, the Ministers of Justice and Police, along with the Minister of Natural Resources, will meet to discuss the permitting policy for concessions. According to the Minister, specific regulations will be tied to these permits, reflecting the government’s intended approach.
Offshore oil already operates under mandatory monitoring and remediation and the same standards will soon apply to the mining industry, where mercury remains a concern. Existing efforts to reduce mercury use are already in place, and international partners, including Japan, may play a role in accelerating the progress.
Suriname’s standing as one of the most forested countries in the world also carries economic opportunities. With more than 90 percent of its territory covered by forests, the country is in a strong position to benefit from carbon credit markets that reward nations for preserving vital carbon sinks.
These credits are becoming an important source of climate finance, and Suriname has signaled its interest in tapping into them. If paired with oil revenues, carbon finance could provide the country with a second stream of income while reinforcing its pledge to protect the country’s natural environment.
