LCDS 2030 to help unlock multibillion dollar climate change value of Guyana’s forests

Apr 09, 2022 News

LCDS 2030 Series Pt 1.

Kaieteur News – The PPP/C Government’s Low-carbon Development Strategy (LCDS) 2030 which was launched last year October sets out a clear vision on how the country will accelerate economic growth and development in a non-polluting, low carbon way. It outlines how Guyana will utilize and monetize its natural resources such as its lush and pristine forests in a sustainable manner so as to combat the impacts of climate change.
LCDS 2030 also outlines how the government will ensure the country’s world-class forests, biodiversity, water and marine resources are valued for the vital contribution they make to the health of the planet.
The current draft that was launched by President, Dr. Irfaan Ali in late 2021 is undergoing a period of consultation with citizens on how the nation can re-double its efforts towards achieving the outlined vision, the roots of which can be traced back to 2009.
In 2009, Guyana had launched the first Low-carbon Development Strategy from a developing country, setting out a vision for inclusive, sustainable development, while simultaneously maintaining the country’s forests, about 85% of the country’s territory, to help meet some of the most urgent challenges the world faces.
There is no doubt that Guyana intends to stay true to the vision set out in 2009 which is to create a model low-carbon economy for the world.
Since 2009 however, local authorities have gained a greater understanding of the outsized contribution Guyana’s ecosystems make to the world’s health and economy, as well as its role as one of the world’s most important countries for biodiversity conservation.
Here are some interesting facts about the important role Guyana’s forests play as noted in the LCDS 2030.
• Guyana has the second highest percentage of forest cover on earth and is working with partners to sustain 99.5% of that forest while building the foundation for a new low carbon, ecosystem economy. Government has said it expects to tap opportunities to access a market mechanism for forest climate services and other ecosystem services. This will enable Guyana to store 19.5 billion tonnes of carbon dioxide equivalent (the measure used for greenhouse gas emissions).

• Guyana has maintained the second highest percentage of forest cover on earth, with more than 99.5 of the forest’s 18 million hectares remaining. Deforestation rates are among the lowest in the world and Guyana is one of only four countries in the world (and one of only two in the Amazon Basin) verified to have sustained a High Forest Low Deforestation (HFLD) state.

• Guyana is one of four countries which host the Guiana Shield, one of the most pristine rainforest landscapes in the world. The Guiana Shield stores around 18% of the world’s tropical forest carbon and 20% of the world’s fresh water.

• Guyana’s forests alone provide value that is estimated to range from US$40-US$54 billion annually. Unfortunately, this value is not recognised in monetary terms. The government is however, working to monetize the preservation of Guyana’s forests through payments from international partners such as Norway.
LCDS 2030 is currently undergoing a period of national consultation. Once this is completed, the LCDS will be finalised and then tabled in the National Assembly.

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