Guyana: Prez Irfaan Ali witnesses agreement signing between govt and Hess Corporation
President Irfaan Ali witnessed the signing of the historic agreement between the Government of Guyana and Hess Corporation.
3rd of December 2022

Guyana: President Irfaan Ali witnessed the signing of the historic agreement between the Government of Guyana and Hess Corporation, which will see the US-based company purchasing high-quality carbon credits for a minimum of US$750m over a period of 15 years.
The multi-year agreement is for a total of 37.5 million REDD+ jurisdictional carbon credits (current and future issuances), which will amount to 2.5m per year back-dated from 2016 to 2030.
The payment will, however, be made between 2022 and 2032.
The total amount of credit would be approximately 30 per cent of Guyana’s available credits.
President Ali said the signing is “historic for corporations, the voluntary market, industries, countries and forested countries. Guyana has, once again, demonstrated that it could be done, and it will be done with hard work, commitment, strategic planning, positioning, and vision”.
The credits will be on the Architecture for REDD+ Transactions (ART) registry and will be independently verified to represent permanent and additional emissions reductions under ART’s REDD+ Environmental Excellence Standard 2.0.
Guyana became the first country this week to get special carbon credits issued to it by the ART.
At today’s event at State House, President Ali was joined by Prime Minister, Brigadier (Ret’d), Mark Phillips; Vice President, Dr Bharrat Jagdeo; other senior members of the Government; CEO of Hess Corporation, John Hess and members of the Diplomatic Corps among others.
Latest
- Kenyan Ambassador Everlyne Mwenda Karisa pays courtesy call to PM Terrance Drew
-
PM Roosevelt Skerrit reviews Dominica's Hurricane preparedness plans at NEPO meeting -
Hurricane Season 2025: TTMS issues flood and weather alerts in Trinidad and Tobago and Grenada -
St Kitts and Nevis Minister Dr Denzil Douglas participates in 60th COTED Meeting in Georgetown, Guyana -
Caribbean Airlines Unveils "Pre-Summer Toronto Timeout" Campaign with Increased Flight Frequency and Competitive Fares
Related Articles

5th of December 2024

10th of December 2024

29th of November 2024

28th of November 2024

22nd of November 2024

26th of November 2024

24th of November 2024

18th of November 2024