While acknowledging the enormous quantity of oil discovered offshore Guyana, the United Kingdom’s COP26 Envoy Dr John Murton says Guyana is now in a unique position to use the massive growth from its oil and gas industry to invest in the clean energy transition.
“I know for Guyana with its recent discovery of oil, a transition away from fossil fuels may feel impossible. However, the truth is that long-term growth is founded in investment in cleaner and greener energy. This country has a unique opportunity and an opportunity to use this phenomenal growth in GDP to invest in clean recovery now, building resilience into its energy grid and providing a sustainable future for its people,” Murton told the international energy conference yesterday at the Marriott Hotel.
He noted that the alternative is much starker and would see investment in “what will in the future become stranded assets.”