Former President of Colombia, Ivan Duque sees Guyana as not just an “energy powerhouse”, but also a “green superpower”. He made the comment while speaking at the opening of the Guyana Energy Conference and Supply Chain Expo at the Marriott Hotel.

The former Colombian President said with vast rainforest, low deforestation rates and a wealth of resources, Guyana is well poised to become one of the leading green economies within Latin America and the Caribbean.

He said the development of Guyana’s oil and gas resources is taking place at the same time with the development of the country’s green potential. He believes, however, that there is more than should be done.

“Guyana has to demonstrate to the world that, that green capacity that is almost at the same level of oil and gas, [and] should not only be praised, but should mobilize investment and should be seen as an engine of social transformation for Guyana. That’s why I consider Guyana is a green superpower. And why is it a biodiversity super power, ladies and gentlemen, because almost 90% of the territory of this country is forest that are still there in a world that is seeing deforestation grow at levels that we have never seen before” Mr. Duque said.

Mr. Duque said Guyana is an example of how protecting nature makes a difference, and a leader in the climate fight.

He also recognised the many investment opportunities that are available in Guyana.

“When you have 90% of a country in forest, when you are doubling its protected areas, when you have all this multiplicity of species, you’re also a country that is sinking carbon of around 20 billion tons, then the question is a $1invested in Guyana is a much greener dollar than invested somewhere else, and that is competitiveness,” Mr. Duque said.

He noted that Biodiversity Finance, presents opportunities for taxonomy, debt swaps, bonds, guarantees, impact investment and biodiversity credits.

“Taxonomy will investors to understand when you make a great investment in Guyana, you are going to reach a specific objective. That’s why we also talk about bonds. If we have the taxonomy and we are following the Colombian experience of 2021, we had the taxonomy, we announced it at the New York Stock Exchange, and then we were able to launch our bonds. Our bonds had a 7% green, so imagine if Guyana can issue bonds for the international markets connected to its environmental and biodiversity objectives, and it can have discounts that allow to allocate in a smarter way the resources that are in the world, in terms of liquidity for ESG,” Mr Duque reasoned.

In July, Guyana will join world leaders to launch a Global Biodiversity Alliance.

The former Colombian President also took stock of the country’s budding Oil and Gas Industry, and the push to further diversify its economy. He said the “tremendous progress” recorded to date is evident in the country’s sustainable development that has redound to the benefit of the people of Guyana.

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