Guyana’s leadership recognised at COP29 in Baku

The  Government  of  Guyana  has  been  actively participating in critical negotiations at the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) – while also receiving international recognition for its global leadership in climate action. Held in Baku, Azerbaijan, from November 11 to 22, 2024, the conference has so far seen several events which highlighted Guyana’s contributions to advancing practical climate solutions.

Award for transparency in climate reporting

Guyana  was  honoured  with  the  Transparency  Award  at  the  Biennial  Transparency Report (BTR) event. The award, presented by Executive Secretary, Simon Stiell, of the United Nations Framework Convention on Climate Change (UNFCCC), recognised Guyana’s commitment to transparent climate reporting. As one of the first countries globally to undergo an in-country review of its BTR, Guyana has set a global precedent for enhancing the quality and transparency of climate data. Senior Director of Climate and REDD+ at the Ministry of Natural Resources, Pradeepa Bholanath, accepted the award on behalf of the country.

Co-chairmanship of the Forest and Climate Leaders’ Partnership (FCLP) Building on its previous role as chair of the Carbon Markets Working Group, Guyana has   now   assumed   the  position  of  co-chair  of  the  Forest  and  Climate  Leaders’ Partnership,  alongside  the United Kingdom. The FCLP was established at COP26 in Glasgow after over 100 global leaders committed to ambitious action to halt and reverse forest loss and land degradation by 2030. This partnership, now comprising over 30 countries,  aims  to  advance  practical  solutions,  integrating  forest  conservation  with sustainable development.

At the event announcing the new co-chairs, it was highlighted that Guyana had received US$227 million in results-based payments from the Guyana-Norway Agreement and US$237.5 million to date from its groundbreaking agreement with Hess for the sale of ART-TREES credits. This represents one of the largest flows of forest carbon finance globally and served as a focal point for discussions among attendees. Providing remarks, Minister of Natural Resources, Vickram Bharrat said, “The Government of Guyana is pleased  to join the United Kingdom as co-chairs of the Forest and Climate Leaders’ Partnership  (FCLP).  The coming year will be vital for global efforts on forests, with Brazil’s hosting of the next COP bringing much-needed focus to this priority. The good news is that forest countries and communities are not lacking in ambition—what they need is to be able to access practical pathways to realise that ambition. Countries in the FCLP, as well as others, are already advancing a menu of solutions, so we must create the opportunity in the coming year to go further and faster.”

He added, “We know from experience that results-based payments and carbon credits can  combine  action  on  forests  with  sustainable  development  and ambitious climate action. We know how this can be scaled. So now is not the time for endless theoretical debates on obscure matters. It is time for measurable, accountable action. The Forest Climate Leaders Partnership has set itself ambitious objectives and a credible roadmap for action. If their members, and other countries working alongside them, manage to achieve these objectives, it could result in the single biggest contribution to averting catastrophic  climate  change  between  now  and  2030.  This  could  literally  be  the difference between success and failure in meeting the goals of the Paris Climate Agreement.”

Meanwhile,  Pradeepa  Bholanath,  along  with  the  Deputy  of  the  National  Toshaos Council, Sonia Latchman, shared Guyana’s experiences, emphasising the importance of indigenous peoples and local communities in forest conservation and climate solutions.

Participation in key climate negotiations

Guyana has actively participated in the ongoing negotiations on critical elements of the Paris Agreement, including Article 6, REDD+, climate finance, and adaptation. These negotiations aim to finalise frameworks that enable countries to implement effective market  and  non-market  mechanisms,  access  finance  for  forest  conservation,  and enhance  resilience  to  climate  change  impacts.  Guyana  continues  to  advocate  for practical, results-based approaches that integrate ambitious climate action with sustainable development.

The  LCDS’  Stakeholder  Engagement  Coordinator,  Vanessa  Benn,  participated  in  an event hosted by Commonwealth Secretary-General, Patricia Scotland, where Guyana’s pioneering experience with carbon markets was included in a Commonwealth publication aimed at helping member states access climate finance. During the event, the  Commonwealth  Finance  Hub,  an  initiative  launched  by  former  President  Dr. Bharrat Jagdeo, was highlighted by the Secretary-General. This initiative has now enabled Commonwealth developing countries to access hundreds of millions of dollars in climate finance, significantly advancing their climate and development goals.

Commentary from international leaders

The UK’s Secretary of State for Energy Security and Net-Zero, Ed Miliband, praised Guyana’s proactive approach to climate action and its leadership within the FCLP. He highlighted Guyana’s Low Carbon Development Strategy (LCDS) 2030 as a model for other nations. President Nana Akufo-Addo of Ghana, the outgoing chair of the FCLP, also commended Guyana’s dedication to sustainable forest management and its significant contributions to global climate initiatives.