The Government of Guyana has announced that it is in receipt of its first payment for carbon credits valued at US$75 million under the agreement made with Hess Corporation. And according to a statement released yesterday, it is the first payment in an agreement that will be worth a minimum of US$750 million up to 2030.
It added that two further payments of US$37.5 million each will be made during 2023 – one in January and one in July – bringing the total amount available for appropriation in this year’s National Budget to US$150 million.