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Table A4.1 Agricultural support programmes, 2018-22
Part B
(...)
Objective: 22. Encouraging compliance with sustainable forest management norms
Description: The COA[Council of Agriculture] covers 50% of the fees payable by businesses applying for Forest Stewardship Council certification.
2018-2022 Total beneficiaries: 2
2018-2022 Total disbursements (TWD million): 1.02
(...)

2.6. (...) VAT at the rates of 14% or 0% is charged on the taxable supply of goods and services within Guyana by a registered person and the supply of machinery and equipment for obtaining, generating, and utilizing electricity from renewable energy sources is VAT exempted, (...)

2.8. During the review period, there was the establishment of Natural Resource Fund (NRF) Act No. 12 of 2019. This Act became operational as Guyana realized the need to rationalize the management of the anticipated revenue of its oil and gas resources. (...) The Natural Resource Fund is intended to manage the natural resource wealth of Guyana for the present and future benefit of the people in an effective and efficient manner by ensuring that volatility in natural resource revenues does not lead to volatile public spending; ensuring that natural resource revenues do not lead to a loss of economic competitiveness; fairly transferring natural resource wealth across generations to ensure that future generations benefit from natural resource wealth; and using natural resource wealth to finance national development priorities including any initiative aimed at realising an inclusive green economy. (...)

3.28. (...) the Government of Guyana is also actively promoting accelerated diversification of the economy and developing non traditional sectors including the services sector, tourism, alternative energy and information technology besides the gas and oil sector. (...) The Government is also pursuing investments in alternative renewable energy including biofuels, hydropower, and solar energy in response to climate change and the need to reduce dependence on fossil fuels.

3.29. Guyana's Low Carbon Development Strategy (LCDS) 2030 is geared towards a massive expansion of renewable energy across the country. The strategy aims to decouple economic growth from the use of fossil fuels for electricity generation by developing low-carbon energy resources (Solar, Hydro, Wind, Biomass, and Natural Gas) to meet the rapidly rising demand and keep greenhouse gas emissions low. The Government's Hinterland Electrification Programme aims to utilize the most technical and economically feasible solution (interconnection to the larger grid, solar PV and/or mini hydro) that will include the enhancement of the productive usages of energy to increase the long term sustainability of the mini grids. It is anticipated that the programme would be implemented during the period 2023-2026.

3.30. The Government of Guyana remains committed to providing affordable, stable and reliable energy that will benefit both households and businesses. Under this initiative, the Government will advance an energy mix of solar, hydropower, natural gas, and wind, which will lead to more than 500 MW of newly installed capacity while reducing the country's dependence on imported fossil fuels for electricity generation and the cost of electricity.

3.31. The Government is committed to implementing the following policy measures:
• Completion of the 165 MW Amaila Falls Hydroelectric project. (...) • Investment in solar and wind systems for off-grid areas.
(...) • Replacement and upgrade of solar systems in the hinterland.

4.2. Guyana's interests in the Doha Development Agenda negotiations on agriculture remain premised on the need to have food security for the vulnerable countries that are prone to the effects of global warming and climate change; (...) the need to provide adequate policy space for domestic and CARICOM agriculture as well as other issues that are necessary for sustainable growth of our agricultural sector

5.3. (...) Guyana is developing a low carbon green economy, while at the same time developing the oil and gas sector as a key component in enhancing economic development. (...)

5.4. Guyana is cognisant of the negative consequences of climate change and as a country with a low-lying coastline hosting most economic activities will continue to put emphasis on measures designed to avert the causes of climate change and environmental degradation. (...) It will also involve repairing coastal and hinterland climate protection infrastructure, as well as targeted support for agricultural expansion in non-forested parts of the country – to enable Guyana to address national and regional food and nutrition security concerns. Measures have been put in place to encourage the use of solar energy, while studies are being made to develop hydropower generation plants to support economic activity across the country. There are also plans to use wind power, and the Government is addressing the demand side through increased efforts to reduce technical and commercial losses. Clean and sustainable power generation is expected to have a very positive effect on the competitiveness of the manufacturing sector. Guyana's potential for the generation of hydropower could also be used to export energy to neighbouring countries.