Guyana’spositioninginclimatechangepolicyhasbecomemore...

Frompage4 innovation and new approaches to doing business.”

“ T h e c o u n t r y ’ s a t t r a c t i v e n e s s t o environmentally and s o c i a l l y c o n s c i o u s international investors can also determine its ability to compete for foreign direct investment.”

Guyana’s positioning in climate change policy has also become more complex as it ramps up its oil production: “Guyana holds a unique position being a longstanding significant carbon sink then swiftly becoming a significant oil exporter, transitioning to clean energy consumption a n d b o o s t i n g t h e development of the nation in less than a decade. The Tyndall report and the IEA are asking governments and oil and gas producers to w a l k a w a y f r o m hydrocarbonreserves.”

Ononehand,thecountry acknowledges the need for actiononclimatechangebut on the other hand, there is equallyvalidneedforsocioeconomic development in a country that is eager to modernize and provide a betterstandardandlivingfor itspeoplewhileitcandoso:

“Guyana’s oil revenue is earmarked advance much needed development in infrastructure, energy reliability and access, telecommunications, health care, education, agriculture housing and national security

The issue is more about survival than it is about progress.

…oil demand is expected to decline after 2050 and Guyana is racing against the clock to produce and sell a commodity that is slated to bephasedout.

Revenue projections indicate that this is a long- awaited opportunity to secure sufficient funds to meet national objectives and absorb inevitable economic shocks.”

There is one gift the people of Guyana ought to givethemselvesin2023and beyond—politicalstability: “History will judge the actions and statements of government representatives and the opposition that impact and influence the sentiments and, in turn, demands of the general public.

W e a k p o l i t i c a l institutionsareafasttrackto the dreaded Resource Curse, corruptionandinflation.”

“It is quite simple; politically stable countries flourish, politically unstable countries devolve into chaos and poverty regardless of form of government, size of hydrocarbon reserves or the favourability of contracts secured with multinational companies.”

In 2023, optimists can confidently hope for

Guyana’s progress and prosperity as long as the country does all within its power to secure political stability

As local government elections approaches in under three months, I say to Guyana: the world and investorsarewatching.

Regards,

Dr.LorraineSober