Gov’t finalising agreement to make fiscal contributions to Protected Areas Trust Fund
The government is in the process of finalising arrangements to begin making fiscal contributions to the Protected Areas Trust (PAT) Fund, as part of its drive to advance biodiversity protection efforts.
This was confirmed by Permanent Secretary of the Ministry of Natural Resources, Joslyn McKenzie, during an address on the occasion of the 10th anniversary celebration of the PAT. The event took place at the Herdmanston Lodge on Monday.
McKenzie said that the agreement marks the fulfilment of yet another commitment by the government as it seeks to expand the work of the PAT.
“I wanted to say that the Ministry of Natural Resources and the Board of Directors of the PAC (Protected Areas Commission) are extremely pleased with the work that you have done. We know it is not easy to manage this level of funding, especially with international markets,” he said.
Guyana’s Protected Areas Trust, established in 2014, is dedicated to funding and managing the National Protected Areas System (NPAS).
Through the Protected Areas Commission, PAT provides support to projects that conserve biodiversity and maintain ecosystem services within Guyana’s protected areas. This is achieved by using revenue from its endowment fund, known as the Protected Areas Trust Fund (PATF).
The PATF was originally endowed with US$8.5 million. The organisation receives funding from international donors, private sector donations and endowment fund investments, among other avenues.
PS McKenzie explained that the financial contribution from the government will advance efforts to double the size of protected areas.
During his recent addresses at the United Nations General Assembly and several sideline engagements, President Dr Mohamed Irfaan Ali reiterated Guyana’s commitment to doubling its protected areas by December 2025 and achieving the global biodiversity target of protecting 30 per cent of its land and marine areas by 2030.
The permanent secretary reinforced the president’s vision and said that the country is on track to achieving this ambitious target.
“Very quickly, the goal of 17 per cent protected areas by 2025, and then the protection of 30 per cent by 2030 is actually going to become a reality and we have all the groundwork laid for this. This is indeed using the marine area and also the terrestrial spaces,” he said.
He explained that the ongoing mineral mapping process will enable the natural resources ministry to expand and refine intact forest coverage.
“Once we are able to do that, we will be able to address lots of issues. Previously, we had about 16,000 claims that were unverified. We are now down to just about 3,000,” he said.
In light of President Ali’s recent announcement in regard to the launching of a Global Biodiversity Alliance, McKenzie said that the ministry and the PAC are working assiduously to bring this to fruition.
“Some of the focus of that alliance will essentially be creating a market for biodiversity credits, scaling biodiversity conservation debt swaps, accelerating biodiversity bonds, funds, establishing a blueprint for biodiversity taxonomies, and promoting nature positive action,” he added.
The National Protected Area System in Guyana comprises five protected areas covering a total of 8.5 per cent of the country’s terrestrial space.
These include the Kanuku Mountains Protected Area in the Rupununi, the Shell Beach Protected Area on the coastal north-west, the community-owned Kanashen Amerindian Protected Area in southern Guyana (the country’s largest), Kaieteur National Park, Iwokrama Rain Forests, and four urban parks.
Chairperson of the PAT, Melanie McTurk, also delivered remarks, underscoring that the trust is one of the most sustainable mechanisms for investing in the future of Guyana’s protected areas.
British High Commissioner, Jane Miller; United States Ambassador to Guyana, Nicole Theriot; European Union Ambassador to Guyana, René Van Nes, other members of the diplomatic corps and officials were also in attendance.