Norway announces new contribution to Guyana for its continued low deforestation

The Guyana-Norway climate and forest partnership continues to make significant progress. In 2012, Guyana kept deforestation and forest degradation at very low, though increased, levels. Based on this result, combined with improvements in forest governance in 2012-13, Norway today announces that it will contribute 35 million USD to the implementation of Guyana’s Low Carbon Development Strategy.

Today’s announcement of a US$35 million payment to Guyana is based on Guyana’s deforestation rate in 2012 as well as the country’s progress on indicators that will enable agreed goals for forest governance.

- Guyana’s ambitious goal is to enhance economic growth while preserving the rainforest. I am happy that Norway can contribute to Guyana’s green development through our partnership on forest. Guyana’s deforestation is one of the lowest in the world. The goal of the partnership with Guyana is to keep it that way, says Tine Sundtoft, Minister of Climate and the Environment in Norway.

Since 2009, Norway has been contributing to Guyana’s efforts to enhance economic development while maintaining over 99.5% of its 185 000 square kilometer forest.

In the period from January 1st 2012 to December 31st 2012, Guyana’s verified deforestation rate was 0.079%. This is an increase compared to previous years, but still an exceptionally low level relative to almost all other tropical countries.

Guyana has furthermore reported on progress of the enabling activities related to sustainable forest management in the period from June 30th 2012-September 20th 2013. These results have been independently assessed by Indufor. Substantial and satisfactory progress has been made on almost all indicators. However, Guyana’s efforts to apply for candidacy of the Extractive Industries Transparency Initiative (EITI) demonstrated slower than anticipated progress. Details on how this influences the payment can be found in the Technical Note on Payments. 

Today’s announcement brings to US$150 million the total earned from Norway to Guyana since the partnership started. The accumulated payments are being invested by Guyana in its Low Carbon Development Strategy (LCDS).

More details on this announcement and next year’s indicators for enabling the agreed goals for forest governance can be found here.

 

Related news

Latest news

Jotne Subsea Gas Lift for Balder Field

In April 2015, Jotne E&P was awarded an EPC contract to build the subsea gas lift manifold for Exxon Mobil on the Balder Field.

Jotne Awarded Contract for Subsea Protection Structure

In January 2016, Jotne E&P was awarded a contract for the delivery of a subsea protection structure and GRP cover for a Xmas tree at Balder field. The contract was awarded by Ocean Installer.

UiB and CMR in high-tech collaboration

Students from UiB last month joined an experiment with an ultra-high-speed camera. This was a part of the troubleshooting of the Field Kelvin Probe currently under development.

Hatteland Display at International Workboat Show 2016

Hatteland Display are highlighting its diverse portfolio of maritime displays and panel computers on its booth (#1658) at the International Workboat Show 2016 (IWBS 2016) this week.

Servogear Announces Upcoming Events

Servogear announces a busy end of November, beginning of December. They will be participating at important international exhibitions.

Teamtec and ANDRITZ Cooperation

ANDRITZ and TeamTec have signed a cooperation agreement for worldwide marketing of the SeaSOx exhaust gas cleaning system for the maritime industry. 

Export Credit Norway looking for Norway's Best Exporter

Export Credit Norway  has now opened the nomination process for the 2017 Export Award, searching the Norwegian exporter of the year. 

Global Economic Outlook

7 December, Oslo Chamber of Commerce invites to a session with insightful updates on the Norwegian and international economy.

Rebuilding for Hydrogen

M/Y “Che Guevara”, previously owned by Gaddafi, will be converted to run on hydrogen. Greenstat will lead the project and are seeking partners.