Guyana’s Low Carbon Development Strategy (LCDS) 2030 sets out a vision of a fair, inclusive, sustainable, and prosperous Guyana, that simultaneously creates a model for avoiding deforestation and maintaining forest coverage while growing the economy five-fold over 10 years and keeping energy emissions flat.
In 2009, Guyana launched the first Low-carbon Development Strategy (LCDS) from a developing country, setting out a vision for inclusive, sustainable development, while simultaneously maintaining the country’s forests, about 85% of the country’s territory, to help meet some of the most urgent challenges the world faces. Guyana has the second highest percentage of forest cover on earth and is working with partners to sustain 99.5% of that forest while building the foundation for a new low- carbon, ecosystem economy.
The LCDS 2030 carries forth the three objectives set out those in 2009 along with one more objective. The three objectives outlined in 2009 were: Create new economic incentives: how to make forests worth more alive than dead, stimulate future growth using clean energy and non-deforesting economic activities, and protect against climate change.
The fourth objective included in LCDS 2030 is aligning with global climate goals. The LCDS 2030 document mentions that since the production of the 2009 LCDS, Guyana has discovered oil and gas, which has transformed the country’s development prospects. Guyana will act strategically and responsibly as the sector develops, supporting global energy security while diversifying and decarbonising Guyana’s domestic economy and investing in development priorities for all Guyanese, including health, education and low-carbon opportunities. At the same time, the Government will advocate internationally for a strong global carbon price and the removal of subsidies on fossil fuel – to incentivise the lowest carbon, most cost-effective oil and gas in the global marketplace in line with the goals of the Paris Climate Agreement under which there will be demand for decades to come.
Planning for sustainable development is the core principle that guides the LCDS 2030. This means promoting development and stimulating future growth for all Guyana’s people through a balance across: Human Capital: Ensuring that Guyanese citizens achieve greater health, education and other social outcomes; Financial Capital: Ensuring equitable access to finance for all, whether seeking to invest in start-ups, expand existing businesses or cope with unexpected external shocks; Physical Capital: Upgrading Guyana’s energy, transportation, digital, water, and housing infrastructure on a low-carbon, non-polluting trajectory; and Natural Capital: Introducing mechanisms to sustain Guyana’s world-class natural capital to enhance quality of life for all Guyanese and deploy natural capital as part of solutions to global problems, including climate change, biodiversity loss and deteriorating water resources.
The core areas that will be explored in creating new incentives are forest climate services, sustainable forestry and low impact mining, biodiversity, water resource, and ocean/marine resources. This will enhance employment and income generation opportunities through domestic regulation and linking with global market standards. The Strategy will expand the range of ecosystem services that can become part of global nature-based solutions, beyond carbon. This entails partnerships from Indigenous Peoples and local communities, local business, government, and international stakeholders.
According to the Strategy, stimulating future low-carbon growth will involve advancement in traditional sectors as well as new sectors. The main areas of stimulating low-carbon growth include: expansion of agriculture in savannah areas where appropriate; further development of the hospitality industry; expansion of the ICT sector; strengthening and expansion of added-value and manufacturing capabilities; and further development of tourism potential. LCDS 2030 includes all communities and recognizes the differences in forest type, and land tenure structure for various communities. A suite of programmes has been identified in the LCDS to create opportunities for all villages and communities.
