World’s first TREE Credits issued to Guyana

Guyana has recently been issued the world’s first TREES credits by the Architecture for REDD+ Transactions (ART). With this resource, Guyana can now begin selling these credits, thereby circulating carbon market finance. This milestone reflects Guyana’s commitment to protection of its biodiversity and well-preserved rainforests, to which the country was awarded due to preventing forest loss and degradation. Known as ‘jurisdictional REDD+,’ 33.47 million credits have been given as per this award, with H.E. President Dr. Irfaan Ali having signed an agreement with Hess Corporation worth $750 million, will see the carbon market furnished with opportunities as countries comply with the International Civil Aviation Organization’s global emission reduction program CORSIA, and social responsibility commitments. Since Vice President of Guyana, Dr. Bharrat Jagdeo worked towards becoming the “Champion of the Earth,” he acknowledged the country’s fulfillment of their long-term vision towards a sustainable future in responding to climate change, the energy mix and food security. According to Mr. Frances Seymour, Chair of the ART Board, “Indigenous Peoples and local communities around the world can now build on Guyana’s experience to accelerate progress towards meeting global forest and climate goals in ways that ensure environmental and social integrity.”