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Guyana recognised for its environmental stewardship
Dear Editor,
What an achievement! I speak here of Guyana’s election to the EITI board, thereby showing its prominence and global influence in the extractive-sector transparency milieu. As Dr. Prem Misir, Adviser for Government Agency Engagement on EITI Affairs at the Ministry of Natural Resources, pointed out, this “… marks a significant milestone for the country and highlights its growing influence in promoting transparency and accountability in the management of natural resources.”
A touch of history, easily accessible too, is in order here, as I recall that the Extractive Industries Transparency Initiative (EITI) was formally launched at a conference in Lancaster House, London in June 2003, where some140 delegates adopted the 12 core EITI Principles. This was a progression emanating from former UK Prime Minister Tony Blair, one year earlier, at the 2002 World Summit in Johannesburg. Very important to note was that the initiative was created to address the “resource curse” in developing nations, where wealth from oil, gas, and minerals often leads to increased poverty, conflict, and corruption. It thus provides a global standard for openness and accountability, by requiring member countries and companies to disclose revenues and payments. To this august body, Guyana officially became a candidate member in October 25, 2017, by virtue of its ‘pledged’ commitment to improving transparency and accountability in its growing natural resource, oil, and mining sectors.
Now look where Guyana is?
As per the news, Minister of Natural Resources, Vickram Bharrat, was recently elected as a Principal Member of the Implementing Country Constituency on the EITI Board. He was elected to represent Latin America and the Caribbean for the 2026–2029 term, placing Guyana among the ‘decision-makers’ responsible for guiding the direction of the global transparency initiative.
And why not? Look at it. Guyana made history as the first nation to receive private sector validation for jurisdictional carbon credits, securing landmark agreements (such as a $750 million deal) to ensure standing forests remain economically valuable. Guyana, in fact, is an authentic global environmental leader in this domain, acting as a net carbon sink, while maintaining 85% of its original rainforest cover.
So indeed, as Dr. Misir extolled, the appointment firmly positions Guyana on the international stage as a major EITI member country. Guyana has a voice with a with global audience, as there are some 55 countries that are part of this EITI network.
Pity it is that up to tis point “… many Guyanese are (still) unfamiliar with the work of the EITI, despite the country’s growing oil and gas sector and increasing participation in the organisation.” As was clearly iterated by Dr. Misir, “… the EITI is a global standard, established to promote good governance in the oil, gas and mining industries throughout the entire extractive value chain … it is a global standard created to achieve good governance of oil, gas, and mineral resources across these industries’ value chain. This global standard makes certain that the natural resources benefit the country’s citizens.”
I add, ‘so far so good,’ as Guyanese truly have reasons to be proud, seeing that country maintains over 87% forest cover with among the lowest deforestation rates on Earth, as it sustainably balances economic growth with pristine rainforest conservation, acting as a massive global carbon sink.
Editor, there is no need for more elaboration, as the evidence precludes any criticism regarding what is happening and how the accountability and transparency are being monitored. Suffice to say that Guyana, as a participating country, is periodically being assessed through a validation process, which measures whether or not they are meeting the EITI’s global standards. This kind of work globally is well supported by the UN, G8, G20, the World Bank, and the IMF.
I heap kudos on the People’s Progressive Party/Civic Government overall, and I specifically ‘hail’ the work being effected by the relevant ministries and enforcers.
Yours truly,
Hargesh B. Singh
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