Indigenous communities to get US$23.2M this year as Govt increases share from carbon credit sale
In an effort to ensure that Indigenous communities continue to benefit generously from the lucrative US$750 million carbon credits deal with Hess Corporation, the Guyana Government will be increasing the share going to these communities in 2024 by over 11 per cent – a move that will see some US$23.2 million going to this communities this year.
When the government signed the historic deal to sell Guyana’s certified carbon credits to Hess, it was with the understanding that 15 per cent of all revenue would go to indigenous communities.
But with Guyana set to earn US$87.5 million this year, a reduction from the US$150 million the country earned in 2023, it could have meant less money for indigenous communities.
In an effort to prevent that, President Dr Irfaan Ali announced that his government will be increasing the indigenous people’s share from carbon credits this year.
The Head of State made this announcement during the opening of the National Toshao’s Conference earlier today at the Arthur Chung Conference Centre.
Based on the agreement, Hess will purchase 750 million carbon credits between 2022 and 2032.
Of the US$150 Million that was received last year, a total of 242 indigenous villages benefitted from US$22.5 Million.
It therefore means that based on the government’s increase in the allocation percentage, Amerindians will get more than ever before this year.
