Guyana sold carbon credits to 19 airlines under LCDS framework

Senior Director for Climate and REDD+, Pradeepa Bholanath

Senior Director for Climate and REDD+ at the Ministry of Natural Resources, Pradeepa Bholanath, said that Guyana sold forest carbon credits to 19 international airlines over the past 18 months. This marks a major milestone in the country’s Low Carbon Development Strategy (LCDS).

Speaking during the fourth episode of Tea on the Terrace, Bholanath explained that Guyana recently received its largest tranche of forest carbon credits to date, amounting to nine million credits under the ART-TREES programme.

“Over the last 18 months, we have seen sales to over 19 airlines at prices that have exceeded the levels we have received under our existing agreements,” she noted.

Each of these credits has received the CORSIA label, making them eligible for use by airlines to offset their emissions.
According to Bholanath, the international aviation sector has shown increasing interest in Guyana’s forest carbon credits.

She added that demand for the credits is expected to grow further as airlines strive to meet emission reduction targets under global climate agreements.

Guyana remains in a unique global position as a net carbon sink, absorbing more carbon dioxide than it emits. This allows the country to provide climate services to the world while generating revenue through the sale of carbon credits.

These revenues are being reinvested into national development initiatives under the LCDS framework, including solar power generation, hinterland electrification, drainage and irrigation projects, and programmes benefiting Amerindian communities. (DPI)