SATURDAY 3rd December, 2022
$100
No. 106925
Over US$112M from sale of carbon credits to go to Amerindian communities
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Guyana earns big from forest preservation
- Hess signs agreement to pay nation a minimum of US$750M for carbon credits - VP Jagdeo says country could earn more based on market changes By Tamica Garnett HESS Corporation on Friday signed an agreement with Guyana to pay a minimum of US$750 million to purchase 30 per cent of the country’s highquality, REDD+ jurisdictional carbon credits. The purchase of carbon credits is an important part of Hess Corporation’s commitment to support global efforts to address climate change and for the oil giant to achieve net zero
greenhouse gas emissions by 2050. Guyana has more than 18 million hectares of forests, storing an estimated 20 billion tonnes of carbon dioxide equivalent. Cognisant of the benefits of forest resources, Guyana and other developing countries have called for compensation for their role in protecting the earth from greenhouse gases emitted mainly by large, industrial countries. The Architecture for
R E D D + Tr a n s a c t i o n s (ART) had issued the world’s first The REDD+ Environmental Excellence Standard (TREES) credits to Guyana, marking the first time a country has been issued carbon credits specifically designed for the voluntary and compliant carbon markets for successfully preventing forest loss and degradation – a process known as jurisdictional REDD+. FULL STORY ON PAGE 3
More love, less hate
- President Ali says at launch of Christmas Village
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Gov’t ‘wholeheartedly 84 Bare Root residents GECOM’s Enrique Livan’s deceptive moves included committed’ to enhancing receive land titles opportunities for PWDs – PM - several young professionals to get house lots switching laptops – CoI hears SEE PAGE
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