Presented by Guyana

This event was devoted to creating incentives for reducing
emissions from deforestation and forest degradation (REDD), especially in high
forest cover, low deforestation rate countries.

Robert Pasaud, Minister of Agriculture, Guyana, introduced the panel, and
said that the world’s economy values extractive forest-related activities but
not the ecological services that forests provide.

Shyam Nokta, Chairman of the National Climate Committee, Guyana, outlined three
principles that will guarantee success of REDD measures, including: providing
incentives to all rainforest countries; ensuring that incentives are of
sufficient scale, with compensation provided at more than the value that can be
generated through deforestation; and involving the public in framing the
solution. He said that looking towards historical baselines of deforestation as
a predictor of future deforestation rates, while appropriate for some
countries, may not be well suited for Guyana, given that the country
could enter into a development phase that could raise deforestation rates.

Bharrat Jagdeo, President of Guyana, introduced a document entitled,
"Creating Incentives to Avoid Deforestation," based on an analysis by
McKinsey and Company, which focuses on measures to avoid deforestation in Guyana. This
national-scale pilot assessment explores the value of avoided deforestation,
which was estimated to be US$580 million per year, equivalent to US$4 per ton
of carbon. He said that the country was prepared to invite international
supervision to demonstrate to the world that their avoided deforestation
actions are legitimate.

President Jagdeo also discussed adjustment costs and said that countries do not
have to sacrifice prosperity when practicing sustainable forestry. In
conclusion, he urged collaboration on forests and called for new thinking. He
said that if commitments are deep enough, Annex I countries will seriously
address the issues within their own countries and also buy credits from
abatement measures being carried out in the rest of the world.

Participants discussed: the treatment of indigenous peoples, especially with
regard to land rights claims; selective logging; and the timescale of payments.
At the end of the event, participants watched a video showcasing Guyana‘s
rainforest ecosystem and biodiversity.