Saturday, January 28, 2023

Low Content Development Strategy - LCDS

Low Carbon Development Strategy 2030 is an expanded strategy for Guyana’s sustainable development in the decade through 2030. It builds on the first LCDS which was launched by former President Dr. Bharrat Jagdeo in 2009. 

Significantly, the previous strategy placed great focus on the sustainable management of Guyana’s forests, which provide invaluable carbon sequestration and ecosystem services. The formalisation of an international forest carbon market, government holds, is critical to garnering revenues to fund LCDS initiatives.

While ExxonMobil has since discovered considerable oil and gas deposits offshore, with Government outlining aggressive production targets, President Dr. Mohamed Irfaan Ali means for the industry to develop, not against the grain of LCDS 2030, but in the most sustainable manner. Guyana’s petroleum industry will not only honour the spirit of LCDS, but will provide the framework for Guyana to pursue its energy transition. Critically, the industry will provide the revenues to help Guyana provide a world class standard of living for its citizens, while pursuing climate adaptation and mitigation.

After a period of extensive consultation which concluded early 2022, the strategy was finalised, debated and ratified by the National Assembly of Guyana.

LCDS News

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