Latest update February 20th, 2025 12:39 PM
Guyana’s has major potential for green energy development through standing forests – Former Colombian President
Kaieteur News – Former President of Colombia, Ivan Duque, has lauded Guyana for its major potential for green energy development through its standing forests.
Duque was at the time making a presentation at the opening of the Guyana Energy Conference at the Marriot Hotel in Kingston, Georgetown on Monday.
Former President of Colombia, Ivan Duque
He told the gathering of local and international dignitaries, oil executives and politicians that while the country is on an upward trajectory with its development of fossil fuels, it has similar capacity for development in its vast biodiversity.
In his presentation titled “Green is the new Black,” the former Head-of-State highlighted the vast biodiversity of the country, particularly its capability to harness carbon credits from its lush green forest.
“Ladies and gentlemen because almost 90 percent of the territory of this country is forest that is still there…in a world that is seeing deforestation at levels that we had never seen before and basically is a country with zero deforestation or marginal deforestation, it is an example of how protecting nature makes a difference…”
“When you have 90% of a country in forest, when you are doubling its protected areas, when you have all this multiplicity of species, you’re also a country that is sinking carbon of around 20 billion tons, then the question is a dollar invested in Guyana is a much greener dollar than invested somewhere else, and that is competitiveness.”
Duque also noted the potential of the country’s biodiversity to garner taxonomy, credits and bonds.
“…We are following the Colombian experience of 2021, we had the taxonomy, we announced it at the New York Stock Exchange, and then we were able to launch our bonds. Our bonds had a 7% green, so imagine if Guyana can issue bonds for the international markets connected to its environmental and biodiversity objectives, and it can have discounts that allow to allocate in a smarter way the resources that are in the world, in terms of liquidity…,” Duque stated.
The former President said he was privileged to have conversation with President Ali, on how the country can benefit from its wealth in biodiversity.
He told the conference “I was able to have conversations with President Ali over the last years and he says yes, we are an energy power but we are something more than that we are a biodiversity powerhouse. We are a carbon sinking unit for the world and Guyana has demonstrated to the world that green capacity that is almost at the same level as oil and gas, should be not only praised but should mobilize investment and should be seen as an engine of social transformation for Guyana.”
In addition, he lauded the government’s initiative not to make the country dependent on oil and gas but to make it one that is diverse in its development trajectory.
Duque asserted that he considers Guyana as a green superpower and a biodiversity superpower.
“Not only this but it is a source of fresh water but in terms of species in trees, it has the capacity to capture 20 billion tons of carbon. Something that is also very important is that it has more than 8000 species of plants in this country many that are unique to the Guyanese landscape and ladies and gentlemen; more than 700 species of birds in this country more than 800 fish, something that few countries in the world can do … This leadership has to be recognized and has to bring investment,” added the former President.
Additionally, Duque pointed out that for the last 24 years Guyana has made a big advance in the human development index.
“It looks marginal but basically it demonstrates that Guyana is one of the countries in Latin America that has made the fastest progress. In terms of the reduction of inequality, it basically reduced its inequality by more than half. In terms of energy coverage, in terms of internet access, infrastructure access in the last 24 years, Guyana has a story that is compelling and inspiring…” he noted.
(Guyana’s has major potential for green energy development through standing forests – Former Colombian President)
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