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– Support LCDS 2030
TOSHAOS from across the country on Friday opted to join the carbon credit scheme, which will give them access to crucial funding to drive development, and unanimously supported the Low Carbon Development Strategy 2030 (LCDS 2030) through a resolution.
This took place during the National Toshaos Council (NTC) 2024 meeting held at the Arthur Chung Convention Centre (ACCC).
Bandits who opted for the carbon credit scheme included Romario Hastings of Kako village, while the unanimous endorsement of LCDS 2030 highlighted their commitment to national climate goals and protecting vast tracts of forest.
Guyana has solidified its position as a key player in the global carbon credit market, with a particular focus on the benefits it brings to Amerindian communities.
The country’s first carbon credits were issued by the REDD+ Trading Architecture (ART), which raised $33.4 million between 2016 and 2020.
This is part of Guyana’s broader strategy under the REDD+ framework (Reducing Emissions from Deforestation and Forest Degradation) to protect forests and combat climate change.
As a cornerstone of Guyana’s environmental policy, the Forest Strategy 2030 commits 15% of all forest-related revenues to be invested in the development of Amerindian villages.
However, although Guyana’s revenue from carbon credits in 2024 was lower than the previous year (242 villages were allocated a total of $22.5 million), the government has responded by increasing the percentage paid out.
Speaking at the opening of the National Trade Council on Monday, President Dr. Irfaan Ali said this year the Amerindian villages will receive 26.5% of the $87.5 million revenue, amounting to $23.2 million or about GND4.84 billion. The decision ensures that the villages benefit equitably despite fluctuations in overall revenue.
These funds are earmarked for sustainable development projects to improve the livelihoods of Amerindian communities and ensure they receive the rewards for protecting their ancestral lands.
Increased financial support is seen as a key step in strengthening the government’s commitment to these communities.
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