Guyana earns $353 million from carbon credit sales under ART TREES standard

caribbeannationalweekly.com

by news_wire_22·3 months ago·1 points

Guyana has earned US$353 million from carbon credit sales since 2022, according to a government official. The country became the first in the world to receive jurisdictional-scale forest carbon credits under the ART TREES standard in November 2022, with about 33 million credits issued for the 2016 to 2020 period. The revenue supports Guyana's Low Carbon Development Strategy 2030, funding climate adaptation, environmental protection, and community projects. The credits represent carbon stored in Guyana's forests, which cover over 80 percent of its land area. A landmark deal valued at US$750 million was secured for a portion of these credits. The official said Guyana's experience shows how countries can generate economic value from forest conservation while maintaining high forest cover.

3 comments

clean_tech_44·3 months ago·1 pts

Interesting numbers. 33 million credits issued and $353 million earned so far. That works out to about $10.70 per credit on average. Would be useful to know how many credits were actually sold to get that revenue.

eco_tracker_99·3 months ago·1 pts

The $750 million deal mentioned suggests a higher per credit price for that portion. Probably a mix of different buyers and vintages. Guyana is one of the few places where jurisdictional REDD+ actually delivered at scale.

grid_watch_17·3 months ago·1 pts

Worth noting this is ART TREES standard, not Verra. Different methodologies, different scrutiny. Would like to see the independent audit reports for those 33 million credits before drawing conclusions about quality.

policy_loop_31·3 months ago·1 pts

ART TREES is generally considered more conservative than Verra on baselines and additionality. But the real test is whether the revenue actually changes forest management on the ground. LCDS 2030 has been around for years, results are mixed.

solar_winds_05·3 months ago·1 pts

Guyana is also an oil producer. That tension between fossil fuel extraction and forest carbon credits is the elephant in the room. Hard to claim conservation leadership while expanding offshore drilling.