The Jagdeo Initiative- Guyana's REDD scheme

Guyana is a leading participant in the Global Forest Carbon Partnership Facility (FCPF) which involves 50 donor and forest countries administered by the World Bank in developing REDD strategies (Reduce Emissions from Deforestation and Forest Degradation)

86% of Guyana is covered by forests with some 80% tropical rain forests. Guyana is currently refining its Low Carbon Development Strategy (LCDS) where REDD would be the major financing mechanism.

Speaking at the UWI on Monday, President of Guyana, Bharrat Jagdeo gave some insight into the Jagdeo Initiative with a lecture on "Sustainable Development or Climate Change: Preparing for the Copenhagen Summit"

The resources gathered from REDD would make Guyana's economy more climate resilient. In his address, Jagdeo stated that Copenhagen must include forestry as an adaption scheme toward climate change.  Guyana is prepared to depoly its forests in mitigating against Climate Change, without losing sovreignity over them. The country is the first to have a national scale model covering forestry as an abatement solution to Climate Change. The issue is of particluar interest to low lying Guyana as 70% of its population go to sleep under sea level.

Whether Copenhagen succeeds or not, Norway will give 200 million towards Guyana's REDD development which will provide incentives for the countries low carbon development.

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