Guyana eyes £46M in climate finance through enhanced forest monitoring project

Guyana is poised to potentially mobilise an estimated £46 million in climate finance through a new project aimed at strengthening its Monitoring, Reporting and Verification Systems (MRVS).

The project, titled “Strengthening and Enhancing Capacities of Guyana’s MRVS,” was launched by the Government in partnership with the Global Green Growth Institute (GGGI) and with support from the UK PACT (Partnering for Accelerated Climate Transitions) programme.

It aims to expand Guyana’s MRVS to improve climate reporting, sustainable forest management, and access to international carbon financing.

The UK PACT programme is funded by the UK Government’s Foreign, Commonwealth and Development Office (FCDO) and the Department for Energy Security and Net Zero (DESNZ) through the UK’s International Climate Finance Programme. It supports countries in their efforts to reduce emissions and achieve their vision for tackling climate change, a release said.

Working alongside the Guyana Forestry Commission (GFC) as the main government agency, the project will increase the country’s reporting capacities for greenhouse gas (GHG) emissions and removals by covering all land use activities and ecosystems, including mangrove forests. A more robust MRVS that fully captures data from the Land Use, Land Use Change, and Forestry (LULUCF) sector is expected to contribute to the sustainable management of about 33,000 hectares of forests.

By improving data analysis capabilities, the initiative will support policy decisions and compliance with global climate reporting processes. This, in turn, is expected to attract greater investment in climate resilience. Additionally, the project is anticipated to advance Guyana’s National Climate Commitments (NDCs), maintain low emissions rates, and raise public awareness of climate issues.

“The Guyana Forestry Commission is pleased to partner with the Global Green Growth Institute and the UK PACT programme to advance Guyana’s national Monitoring, Reporting, and Verification System. Through the work being led by the Guyana Forestry Commission and other Government agencies, we are reinforcing Guyana’s leadership in low-carbon development and ensuring that our forests continue to deliver value for all Guyanese,” stated Edward Goberdhan, Guyana’s Commissioner of Forests, as he emphasised the project’s impact on advancing the Government’s commitment to forests and sustainability.

British High Commissioner to Guyana, Jane Miller, while speaking about the project at a recent workshop in Georgetown, reflected on the United Kingdom’s longstanding alliance with Guyana on climate efforts and forest stewardship. “Guyana should be proud to maintain more than 85 per cent forest cover while experiencing rapid growth,” she stated.

Another key component of the project involves strengthening institutional capacity, with efforts focused on streamlining data sharing and enhancing coordination within the MRVS framework developed through Guyana’s partnership for Reducing Emissions from Deforestation and Forest Degradation (REDD+).

“This initiative will significantly expand Guyana’s ability to monitor and manage its land and forest resources while enhancing transparency and accountability in climate finance,” said Daniel Muñoz-Smith, GGGI’s Caribbean Representative. He added, “By expanding MRVS capabilities, we are not only advancing carbon finance readiness but also paving the way for a more sustainable and climate-resilient future.”

GGGI stated that it will continue to engage stakeholders, fostering awareness and synergies during the project period, which is scheduled for completion in December 2026. Planned activities include setting quantifiable forest-related NDC targets and developing a tracking tool for reporting on Policy and Measures impacts (PaMs).