Home > Editorial > Guyana’s forests offered as massive carbon offset

Guyana’s forests offered as massive carbon offset

Guyana has offered up the entirety of its remaining forest cover as a giant carbon offset, reports The Independent. An offer has been made by the President of Guyana, Bharrat Jagdeo, to keep the extensive rainforests of the nation under the check of an international body to receive the required technical support and development aid for making the difference to a green economy.

Talking to The Independent, President Jagdeo said, “We can deploy the forest against global warming and, through the UK’s help, it wouldn’t have to stymie development in Guyana. We are a country with the political will and a large tract of standing forest. I’m not a mercenary, this is not blackmail and I realize there’s no such thing as a free lunch. I’m not just doing this just because I’m a good man and want to save the world, I need the assistance”.

Guyana, located in the northeastern South America, and having forests on over seventy-five per cent of its total land, is looking forward to gain profit from an emerging market for carbon offsets for the conservation of the forests. At present, no legal mechanism is there which can help in capturing the value of carbon present in the forests, but nations with extensive forests are hopeful that U.N. climate talks to be held next month in Bali will come out with a framework for compensated protection of the forest. A study which was published in the month of August made a calculation that Guyana could make earnings $57 million per annum in carbon credits from such attempts.

The President says that the country already has a model for the plan: in the year 1989, one million acres of forest was deeded by Guyana to the Commonwealth of Nations as a sustainable-use resources called Iwokrama. Estimates by the scientists claim that Iwokrama locks up 20 million tons of carbon.

President Jagdeo is hoping that the country can be rewarded for conserving its extensive forests, but he also says that the nation is poor and will do what is needed to be done for the improvement of living conditions.

It is one of those steps which could promote awareness and urgency needed to tackle climate change. At the same time, it is a pioneering effort made by a small country, which could provide leading example to other developed nations to preserve its forests and flora. Trees are life of this world and without them, life itself is not possible on this earth. Every nation needs to work hard to conserve its greenery and strive to make sure that it is available for every possible threat the world might face due to emission of harmful gases.

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