Less than one percent spent on climate resilience strategy and action plan

Less than one percent spent on climate resilience strategy and action plan – LCDS 2030

Nov 15, 2021 News

…Guyana-Norway agreement

Kaieteur News – According to the People’s Progressive Party/ Civic (PPP/C) administration, Low Carbon Development Strategy (LCDS) 2030 draft, less than one percent of the US$166,400,000 that was funded through the Guyana-Norway agreement, was spent on climate resilience strategy and action plan.

Climate Central map illustrating land projected to be below tideline by 2030.

Since the signing of the Guyana-Norway US$250 million agreement in 2009, three of the 12 projects are still ongoing and the chunk of the monies was spent on the management of the forest.
Through the Guyana-Norway agreement, the total sum of US$166,400,000 was allocated for the projects.
A table in the draft, which summarises Guyana’s earnings plus associated investment income, illustrated that out of the 12 projects under the agreement; eight are completed, three are ongoing and one is still to commence.
The sum of US$50,400,000 was already expended out of the monies that was allocated for the projects and out of that sum the single largest chunk of US$12,600,000, was spent on Transforming Forest Management – Monitoring, Reporting, Verification (MRV) System, while the single smallest sum was spent on the climate resilience strategy and action plan.
The LCDS 2030 highlights that there are over 40 serious climate change risks that are relevant now and are projected for 2030. However, it was stated that work will commence on implementing the resilience objectives aimed at addressing these climate change risks based on identified risk level and importance.
As the adverse, and potentially catastrophic impacts of climate change are already being experienced in Guyana, worrying details from a Climate Central map illustrates that Georgetown, Guyana, and eight other cities worldwide are forecast to be under water by 2030, due to the rising sea level stemming from climate change.
When questioned on the climate change recommendations that were made in a report, Minister of Finance, Dr. Ashni Singh, had stated that the wholesale relocating of coastal residents will be complicated and costly.

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