GUYANA’S forestry sector remains both vibrant and sustainable and with an estimated growth of 4.5 per cent, it was said that the second half of the year is looking positive too.
This performance is according to the Ministry of Finance’s mid-year report for 2023.
“At the end of June, 209,238 cubic metres of timber products were produced, compared with 203,220 cubic metres during the same period last year,” the Ministry of Finance said.
It was said that the production of logs grew by 5.1 per cent in first half of 2023, and roundwood by 28.5 per cent.
“The 2023 outlook for the sector remains unchanged, with growth forecasted at 4 per cent for the year, as concession holders work to meet outstanding targets,” the report read.
Notably, Guyana’s forestry industry employs over 20,000 people and has an annual export value of between $40 and $60 million. There are also 580 small concessions and 17 large concessions, all of which are leased to and run by private individuals or businesses and community forest operators.
The Guyana Forestry Commission oversees and regulates the operations of forest concessions to ensure that operators follow strict sustainable forest management norms and guidelines and that applicable forest legislation is efficiently carried out.
Over the years, Guyana has maintained minimal deforestation with ongoing mining activities, and over 99 per cent of Guyana’s forest cover has been maintained. LCDS 2030 advances the objective of integrating the planning and management of the mining and forestry sectors, supporting sustainable forest management, and advancing low-impact mining to strengthen efforts to achieve the necessary balance between enhancing the employment and economic benefits created by the forestry and mining sectors while also fostering efforts to safeguard Guyana’s ecosystem services.
The Extractive Industries Transparency Initiative (EITI) is a global standard that supports transparent and accountable management of natural resources. It aims to improve confidence, bolster corporate and governmental processes, and provide information for public discourse.
Guyana first got involved with the EITI on May 4, 2010, when the country’s Prime Minister declared interest in putting it into practice. Guyana submitted its applications to the EITI International Secretariat in August 2017, and on October 25th, 2017, the country was formally accepted as an EITI implementing country.
Additionally, 2019 saw the release of Guyana’s first EITI report, which covered the fiscal year 2017. This was followed by its second report in April of 2021 which covered the fiscal year 2018. These reports provided data on mineral production and hydrocarbon sector exploration operations.
Sustainable Forestry Practices Guyana has one of the best managed sustainable forestry systems in the world, thanks to excellent timber harvesting codes of practice, the use of Reduced Impact Logging techniques, strict adherence to forest governance and legality, and careful planning before and after harvesting.
As a result, the majority of the supply chain for Guyana’s timber is largely deforestation-free. The amount of harvest is regularly lower than the annual maximum levels determined using data from the forest inventory. To ensure the effective management of forest resources, sustainable forest management is required, including forest monitoring and enforcement as well as ongoing development of the related codes of practice. Guyana stands out among forest countries for its exemplary forest governance in the sector and strong systems of sustainable forest management.