Georgetown, Guyana — September 25, 2025 – The Government of Guyana, in partnership with the Global Green Growth Institute (GGGI) and with funding from the European Union (EU), has launched a project “Driving Greater Climate Finance Uptake Through Improved Frameworks, Methods, Capacity and Enhanced Awareness of Payment for Ecosystem Services (PES).”  This project seeks to increase knowledge of climate finance via capacity building, improve Guyana’s carbon capture and storage capabilities utilizing established technology, and promote data-driven methodologies that facilitate reforestation, restoration, and payment for ecosystem services (PES). 

PES involves voluntary agreements between those who benefit from ecosystem services, such as carbon sequestration, food and freshwater provision, and those who manage the resources that supply them. These transactions are based on specific conditions for sustainable resource use and act as a financing and incentive mechanism to improve environmental quality (Wunder et al., 2020).  

 With the Guyana Forestry Commission (GFC) as one of the main project participants, the project will enhance Guyana’s access to climate finance by raising awareness, building capacity, and strengthening policies to encourage reforestation. Key deliverables include creating a National Land Restoration Action Plan, an Investment Plan for the same, and developing and refining new technology for land reclamation efforts. 

The project will support global efforts such as the UN Decade on Ecosystem Restoration (2021-2030) and complement Guyana’s Nationally Determined Contributions (NDC), aligning with the Low Carbon Development Strategy 2030. The project is also aligned with the European Union’s Multiannual Indicative Programme (EU MIP), advancing sustainable development and climate action by strengthening Guyana’s capacity to access carbon finance through innovative technologies such as carbon capture and reforestation. The project aligns with GGGI’s mandate by advancing green growth and climate resilience in Guyana through strengthened climate finance frameworks, enhanced PES awareness, and data-driven approaches that support reforestation, restoration, and sustainable carbon management. 

Speaking at the launch of the event, EU Ambassador to Guyana, H. E. René Van Ness remarked, “With this project the European Union reaffirms its commitment to climate finance, and most importantly to our partnership with Guyana in building a resilient, inclusive, and sustainable future.”

GGGI’s Regional Director, for the LAC Region, Ferruccio Santetti in his remarks stated, “By working together, we are helping Guyana integrate climate finance and sustainable growth into its development, transforming ambition into tangible impact for a resilient future.”  

Commissioner of the GFC, Edward Goberdhan expressed gratitude for the partnerships with the EU and GGGI on the project which enhances the legal and sustainable management of Guyana’s forests, noting that it will advance the implementation of the LCDS.  

Following the project launch the project implementation will commence.   

About the Global Green Growth Institute (GGGI)   

The Global Green Growth Institute (GGGI) was founded as a treaty-based international, inter-governmental organization in 2012 at the United Nations Conference on Sustainable Development. GGGI supports its Member States in transitioning their economies toward a green growth model that simultaneously achieves poverty reduction, social inclusion, environmental sustainability, and economic growth. With 52 Member States and 30 Partner countries and regional integration organizations in the process of accession, GGGI delivers programs and projects in over 57 countries. These initiatives encompass developing innovative green growth solutions, technical support, capacity building, policy planning & implementation, and assistance in building a pipeline of bankable green investment projects, project financing, investments, and knowledge sharing. GGGI’s work contributes to its Member States’ efforts to fulfill the Sustainable Development Goals and the Nationally Determined Contributions to the Paris Agreement.  

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 Ms. Aretha Forde   

Communication and Knowledge Sharing Associate   

GGGI – Guyana  

aretha.forde@gggi.org