Mirroring the financial aspect of its 2009 premier climate change initiative – the Low Carbon Development Strategy (LCDS) – President Irfaan Ali yesterday launched an expanded version of the document that proposes Guyana meeting its global commitments while earning payments for its ecological role, even as it maximises returns from its new-found oil & gas industry.
With Guyana already in “far advanced” negotiations for payments for carbon credits, according to Vice President Bharrat Jagdeo, which sources say can yield over US$300 million annually, LCDS 2030 outlines plans to achieve this while simultaneously utilising oil & gas resources.
“The context of the LCDS we launch today – LCDS 2030 – is very different to the context of 2009. But the fundamental challenge of delivering broad-based development and prosperity at home, while contributing to solutions to global problems, remains largely the same,” the President said yesterday in an address to the nation as LCDS 2030 was launched virtually.