Guyana intends to continue strong advocacy and negotiation for early disbursement of funds for Reducing Emission from Deforestation and Forest Degradation (REDD+) actions. Efforts will also be made in concurrence with the role of carbon markets in generating REDD+ financing; more ambitious emission reduction targets by industrialised countries and the full operationalisation of the Green Climate Fund.
This was affirmed by Finance Minister Dr Ashni Singh during his 2012 National Budget presentation on March 30 in the National Assembly.
Guyana intends to continue strong advocacy and negotiation for early disbursement of the REDD+funds
Minister Singh highlighted Guyana’s leading role in achieving a REDD decision in Durban last December when the United Nations Convention agreed to both public and private sources of REDD+ financing, thus allowing for continued negotiations on the role of the carbon market in climate financing this year.
The establishment of a Green Climate Fund with clear eligibility to REDD+ activities and a road map for a legal, global treaty on climate change also signalled high progress, he said.
The construction of the Amaila Falls hydropower project which is due to commence by the third quarter of 2012 in addition to a land titling and demarcation project and an Amerindian Development Fund are among the priority projects for funding from the Guyana REDD+ Investment Fund (GRIF) this year.
Amerindian communities stand to benefit directly from the Amerindian Development Fund, which will support the advancement of priority projects, along with micro and small enterprise development programmes that will address hindrances to developing a strengthened entrepreneurial and small business sector.
The Cunha Canal rehabilitation project which is the first climate adaptation project under the Low Carbon Development Strategy (LCDS), that will reduce the risk of flooding along the East Bank Demerara and other climate adaption projects identified under the GRIF will also be advanced in 2012.
Dr Singh also alluded to Guyana’s commitment to responsible environmental management which is supported by the enactment of the Protected Areas Act 2011.
The act governs the establishment and management of a National Protected Areas System in Guyana and allowed for the establishment of the Protected Areas Commission (PAC) for the management, maintenance and expansion of the national protected areas system.
The finance minister noted that plans in this regard include the establishment of an institutional structure for the PAC, including site management authorities, rangers, and the setting up of a trust fund.
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