Hess Corporation and the Government of Guyana Announce REDD+ Carbon Credits Purchase Agreement - Seite 2

“This agreement further strengthens our strategic partnership with Guyana and demonstrates our long term commitment to the country,” CEO John Hess said. “Development of Guyana’s oil and gas resources is important to meet the world’s growing demand for affordable and secure energy, which is essential to ensure a just and orderly energy transition. Today’s landmark agreement is the result of President Ali’s and Vice President Jagdeo’s leadership and long term vision for sustainable development. We admire the efforts that Guyana has undertaken for years to protect the country’s forests and the Government’s constant emphasis on practical solutions to climate change and strong focus on providing a global model for stopping deforestation and preserving forests. We are pleased to support the country’s efforts to advance sustainable development and enhance the quality of life for the people of Guyana.”

Guyana’s Low Carbon Development Strategy 2030 (LCDS 2030) outlines how the country’s abundant natural resources can be used to combat global climate change while building the foundation for a sustainable, low carbon economy. More information is available at www.lcds.gov.gy.

Reducing Emissions from Deforestation and Degradation (REDD+) is a global conservation mechanism created by the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) in support of the Paris Agreement. Avoiding global deforestation was one of the major commitments made at the COP26 climate summit, where more than 130 countries pledged to end deforestation by 2030. More information is available at https://unfccc.int/topics/land-use/workstreams/redd/what-is-redd.

Architecture for REDD+ Transactions (ART) operates a robust, secure and transparent electronic system to register REDD+ programs and record the issuance, transfer and retirement of serialized verified TREES Credits. ART is an initiative that seeks to incentivize governments to reduce emissions from deforestation and forest degradation, restore forests and protect intact forests. The credits will be issued under ART’s REDD+ Environmental Excellence Standard 2.0 for the quantification, monitoring, reporting and verification of GHG emission reductions and removals from REDD+ activities at a jurisdictional and national scale, which is known as TREES. More information is available at www.artredd.org.