Norway agrees to pay US45 million to Guyana in return for maintaining forests
As part of an ongoing climate partnership between Norway and Guyana, the former country’s government has agreed to reward the latter with US$45 million for having kept deforestation levels and forest degradation at exceptionally low levels.
Between October 2010 and December 2011, Guyana’s deforestation rate reduced to a very low 0.054%, as reported by the Government of Guyana in Guyana REDD+ MRVS Interim Measures Report and verified by Det Norske Veritas. The Guyana-Norway Joint agreement outlines that these results entitles Guyana to a maximum payout of around US$ 74 million in payment for emissions reductions, of which Norway will contribute 45 million.
The Norwegian Minister of the Environment Bård Vegar Solhjell said that: “Guyana has been successful in keeping the deforestation rate at exceptionally low levels, and was one of the first countries anywhere in the world to set out a vision for a low carbon economy which will reduce future pressure on Guyana’s forest. Guyana provides a valuable carbon storage service to the world, and can be a model to other countries with high forest cover and low deforestation rates.”
“Guyana has also been successful in developing its system and methodology for forest monitoring and carbon measurement, providing valuable lessons for the UN climate change negotiations.”
Guyana’s Minister of Natural Resources and the Environment, Robert Persaud commented that: ‘Too many people still say that it is not possible for developing countries to lead the way to solutions to big global problems like climate change. But in Guyana, we are showing that it is possible to lead, and to combine sustainably managed traditional economic sectors with strong environmental stewardship. We are creating unprecented levels of new jobs and wealth, and we are showing the world that it is possible to do this without destroying our extremely valuable forests.”