Brazil invites Guyana to G-20 Summit to talk about making money from forest preservation

Last Updated on Thursday, 29 February 2024, 18:27 by Denis Chabrol

President Irfaan Ali on Friday said Brazil has invited Guyana to make a presentation at the Group of 20 (G-20) Summit later this year on how to make money from forests,

“We have agreed that at the G-20, Guyana will be invited in the person of the Vice President (Bharrat Jagdeo) to make a presentation on Guyana’s models,” he said at a joint briefing with Brazil’s President Luis Inacio ‘Lula’ Da Silva. No questions were taken.

The Brazilian leader said he invited Guyana to participate in the 2024 Group of 20 Summit is scheduled for  July 12 to 14 in Rio de Janeiro to “present the monetization model that they are undertaking here in terms of preserving Guyana’s forest.”

Guyana last year June sold Hess US$750 million in verified carbon credits represent permanent and additional emissions reductions that ultimately protects the forests and provides funds for the country’s Low Carbon Development Strategy. The Architecture for REDD+ Transactions (ART) issued 7.14 million 2021 vintage carbon credits to Guyana on Thursday.

Mr Da Silva praised Guyana for pursuing a “tremendous” mission to take care of its forests.

The G-20 nations are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the U.K. and the United States as well as the European Union.

President Ali, meanwhile, announced that he was holding talks with other forest-rich countries in defining a global model for presentation to the next United Nations Climate Change Summit (COP 30). “As you know, President Lula, not only now, but when he was president before, was championing the issue of forests. Looking at reforestation and the deployment of forests is an important component of the environmental and climate landscape,” the Guyanese leader said.

Brazil is also slated to hold the 30th Conference of Parties to the United Nations Framework Convention on Climate Change
(COP 30) in 2025 in the city of Belém.