European Union (EU) Ambassador to Guyana, Fernando Ponz Cantó, said the EU is committed to assisting Guyana in the fight against climate change. Ambassador Cantó said the EU recognises that Guyana is threatened by the rising sea levels, and has over the years, invested to enhance the country’s sea and river defence capacity.
This commitment was boldly stated as he made remarks on day two of the International Energy Conference and Expo at the Marriott hotel, Georgetown. He said that corporate responsibility is key, pointing out Vice President Dr. Bharrat Jagdeo’s call on oil companies to protect the environment.
He highlighted that in December 2021, the EU invested $1.78 billion in Guyana through its budgetary support programme that will see majority of the sum going towards sea defence.
“The forest are not only wonderful and beautiful treasures of Guyana and Suriname, there are also huge carbon sinks and we understand that preserving them … benefits first of all in Guyana and Suriname but also in human kind and that is why I am happy about those programmes.”
“There is more financing and there is more funding available and we will do our best to ensure that Guyana benefits,” the EU Ambassador stated.
The Ambassador also highlighted that he was happy to hear that Guyana remains committed to achieving its zero carbon emissions by 2050. He said Guyana’s commitment to its global commitment is fundamental to the entire world.
“I am encouraged by this commitment because it is indeed urgent and necessary to move towards more sustainable forms of energy. Our future, but also our business future is there. I am also encouraged equally by the commitment to ensure that oil wealth returns to all the citizens of Guyana. There is no sustainability without this pre-condition. I heard that and I am very encouraged by that.”
However, he said he also recognises that Guyana is in a dilemma wanting to make the most of its resources to uplift its people while at the same time trying to protect the environment.
“We are, all in this room agree that it is legitimate, both are essential but the devil is in the detail. Let me quote an old song, ‘it is not what you do it is the way that you do it.’ The transition must be fast. The transition is not something that will happen in 2050 or 2030, it has to happen now, gradually of course, but it has to happen,” the Ambassador
Vice President Dr. Jagdeo in his address on Tuesday said Guyana intends to carry out oil production in a net zero carbon world.
“Let me be very clear about our position. We support net zero by 2050. In fact, at this point in time, because our forest is such a huge carbon sink, we are already at net zero. In fact, we are positive.”
He further added that “even with us producing one million barrels of oil per day with all the emissions using current technology, we will still be net zero because of the nature of our forest and the carbon sink, which our President spoke about; 19 gigaton storage on an annual emission,” he said.
The four-day energy conference features hundreds of investors from across the world and is being held under the theme ‘Charting a sustainable energy future.’ The conference ends on Friday, February, 18.
