New oil producer serious about low carbon goals, finalizing 2030 strategy

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While efforts continue towards the advancement of oil production operations at the Stabroek Block offshore Guyana, the government is also ensuring progress is made on the finalisation of the expanded Low Carbon Development Strategy (LCDS) 2030.

Vickram Bharrat

In fact, Natural Resources Minister, Vickram Bharrat recently participated in the second meeting of the Low Carbon Development Strategy (LCDS) Multi-Stakeholder Steering Committee (MSSC), which was held at the Office of the President this week. The MSSC, chaired by Head of State, Dr. Mohamed Irfaan Ali, is working to finalise the draft LCDS 2030 which was launched last November and remains open for public feedback so that the authorities can gather input from all Guyanese. Based on the outcome of these consultations, the LCDS would be updated and tabled in the National Assembly.

Minister Bharrat said while Guyana is an oil-producing State with a series of exciting projects underway, the government is committed to ensuring the nation is on track with its target to lower emissions by 70% by 2030 while adding that LCDS will be the vehicle for reaching this destination. He said too that the role of the country’s forests is also at the heart and soul of the LCDS’ objectives.

This was also reiterated on Monday when Mr. Bharrat delivered his message on the International Day of Forests 2022.

He said, “… forest sustainable management and the use of forest resources are key to combating climate change, and to contributing to the prosperity and well-being of current and future generations. Around 1.6 billion people depend directly on forests for food, shelter, energy, medicines and income.”

The official said despite all these priceless ecological, economic, social and health benefits, global deforestation continues at an alarming rate, noting that the world is losing 10 million hectares of forest each year – about the size of Iceland.

Expounding further, he said Guyana’s Low Carbon Development Strategy – the LCDS 2030 – sets out a vision for rising to this challenge. “The current and first draft outlines how we can re-double our efforts to build a low-carbon economy in Guyana – through low-carbon energy; employment and development opportunities for all sections of our society; a transformation of digital, marine and transportation infrastructure; and massive investment in adapting to the impacts of climate change,” expressed the Mr. Bharrat.

He further noted that the LCDS 2030 also sets out how Guyana can build a platform for the economy of the future – a low carbon economy – where world-class forest, biodiversity, water and marine resources are valued for the vital contribution they make to the health of the planet.

Mr. Bharrat further noted that Guyana’s LCDS 2030 outlines how the country will be contributing through a national scale commitment to maintain 18 million hectares of forest under sustainable management. With forest area equal to the size of the United Kingdom, he categorically stated that Guyana is open to investing 19.5 gigatons of CO2 of its forest carbon stock to achieve the global 1.5°C target and stands strongly behind this goal. He noted that there is a plethora of other plans in the document to ensure the country remains a regional leader on emissions reduction while adding that he remains enthusiastic about seeing this through with the government.


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