His Excellency President Irfaan Ali witnessed the signing of the historic agreement involving the Government of Guyana plus Hess Corporation, which will view the US-based company purchasing top quality carbon credits for a the least US$750m over a period of 15 many years. The multi-year agreement is for a total of 37. 5 million REDD+ jurisdictional carbon credits (current and long term issuances), which will amount to second . 5m per year back-dated from 2016 to 2030. The payment will however be produced between 2022 and 2032. The total amount of credit would be approximately 30 per cent of Guyana’s available credits. President Ali said that the putting your signature on is “historic for companies, the voluntary market, industries, countries and for forested countries. Once again, Guyana has proven that it can be done, and it will be done with hard work, commitment, tactical planning, positioning, and vision”. The credits will be to the Architecture for REDD+ Dealings (ART) registry and will be individually verified to represent long lasting and additional emissions reductions below ART’s REDD+ Environmental Quality Standard 2 . 0. Guyana became the first country this week to get special carbon credit issued to it by the ARTWORK. At today’s event from State House, President Ali was joined by Perfect Minister, Brigadier (Ret’d), the particular Honourable Mark Phillips; Vice President, the Honourable Doctor Bharrat Jagdeo; other senior members of the Government; TOP DOG of Hess Corporation, Mister John Hess and users of the Diplomatic Corps and others.
