Negotiations with Norway on extending forest pact in advanced stages – Ali

Negotiations with Norway on the continuation of a forest agreement with this country are in advanced stages, President Irfaan Ali has revealed.

Ali told a news conference last Wednesday that he was unsure when an agreement will be made.

Meanwhile, he said that the funds that remained from the last pact are being programmed towards renewable energy.

Under that agreement, which was signed in 2010, Guyana pledged to accelerate its efforts to limit forest-based greenhouse gas emissions and protect its rainforest as an asset for the world. As such, Norway provided financial support at a level based on this country’s success in limiting emissions with a price set at US$5 per tonne of CO2 equivalent.