President Irfaan Ali left Guyana on Monday evening for Dubai in the United Arab Emirates, to participate in the United Nations Framework Convention on Climate Change (UNFCCC) Conference of Parties (COP) 28.
A number of other Government officials, including Vice President Bharrat Jagdeo will be attending the international meeting. President Ali is expected to leave the meeting early and return to Guyana on Saturday, according to the Office of the President.
Guyana is expected to push climate financing, forest incentives and its model Low Carbon Development Strategy (LCDS) at the Climate Change meeting. Guyana will also co-chair the group of forested countries in the Commonwealth, in providing guidance on the environment.
Last week, Vice President Jagdeo said while Guyana will join the Caribbean Community (CARICOM) in championing the cause for adaptation funding and funding for loss and damage. He said too that the country also intends to strengthen its call for the “right incentives” and “market-based mechanisms” to preserve the forests.
“We made it clear that forest carbon has additional benefits, the biodiversity, ecosystem benefits and yet there is no market for it, there is no financial incentive for forest carbon but there are great incentives for other types of Carbon in the compliance market globally,” the Vice President said.
With support from the Diplomatic Community here, Guyana will also push for the implementation of Article 6 of the Paris Agreement.
According to the United Nations (UN), Article 6 acknowledges that countries can pursue voluntary cooperation in the implementation of their Nationally Determined Contributions to allow for higher mitigation ambition and to promote sustainable development. It outlies the possibility of cooperative approaches and the transfer of Internationally Transferrable Mitigation Outcomes (ITMOs) between different actors, including countries and private sector companies, through bilateral agreements.
The Vice President said currently there is no public funds dedicated to the preservation of the forest.