{"id":15297,"date":"2024-01-09T15:08:14","date_gmt":"2024-01-09T15:08:14","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=15297"},"modified":"2024-01-09T15:08:15","modified_gmt":"2024-01-09T15:08:15","slug":"government-takes-cautious-approach-to-sale-of-remaining-carbon-credits-says-vp-jagdeo","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/government-takes-cautious-approach-to-sale-of-remaining-carbon-credits-says-vp-jagdeo\/","title":{"rendered":"Government Takes Cautious Approach to Sale of Remaining Carbon Credits, Says VP Jagdeo"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>Vice President Dr. Bharrat Jagdeo announced during a press conference that the government is not in a hurry to sell Guyana&#8217;s remaining carbon credits, despite significant interest from various markets. <\/p>\n\n\n\n<p>Currently, 70 percent of Guyana&#8217;s carbon credits are attracting attention, and the government aims to explore the available opportunities before finalizing any agreements this year.<\/p>\n\n\n\n<p>Dr. Jagdeo highlighted that while there is substantial interest from potential buyers worldwide, the market has softened following events at COP28. <\/p>\n\n\n\n<p>The government is carefully evaluating options and considering the current market conditions.<\/p>\n\n\n\n<p>In December 2022, Guyana entered a historic multi-year agreement with Hess Corporation, marking its first-ever such deal. <\/p>\n\n\n\n<p>Under this agreement, Hess Corporation will purchase 2.5 million carbon credits annually for the period 2016-2030. <\/p>\n\n\n\n<p>The agreement is expected to generate US$750 million in revenue over ten years, supporting developmental projects in Amerindian communities and contributing to Guyana&#8217;s climate adaptation efforts.<\/p>\n\n\n\n<p>This cautious approach reflects the government&#8217;s commitment to maximizing the benefits from carbon credits while navigating the dynamic global market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vice President Dr. Bharrat Jagdeo announced during a press conference that the government is not in a hurry to sell Guyana&#8217;s remaining carbon credits, despite significant interest from various markets.&hellip;<\/p>\n","protected":false},"author":4,"featured_media":15298,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[363,350],"tags":[],"class_list":["post-15297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-transformation","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=15297"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15297\/revisions"}],"predecessor-version":[{"id":15299,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15297\/revisions\/15299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/15298"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=15297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=15297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=15297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}