I would like to congratulate the President on his election to lead the General Assembly at its seventy-eighth session and to assure him of Guyana’s full support as he carries out his responsibilities. I also want to take this opportunity to express our appreciation to His Excellency Mr. Csaba Korosi for his leadership as President of the Assembly at its seventy-seventh session. And I join those who have spoken before me in expressing Guyana’s solidarity with the Governments and peoples of Libya and Morocco in the wake of the recent devastating flood and earthquake.
The theme of this year’s session recognizes the need for us to collectively reset our global relationships and imbue them with enhanced trust and solidarity. Only through that can we hope to confront the most pressing challenges of our era — climate change, conflicts, the energy and food crises and the achievement of sustainable development. I continue to believe that multilateralism remains the most effective approach to addressing those challenges, foremost of them climate change. We are all experiencing its devastating effects. The difference, however, is in our capacity to respond. It is well established that those bearing the brunt of climate change have made no contribution to the current crisis. Small island developing and low-lying coastal States such as Guyana are among the hardest hit and require adequate financing to address the attendant effects. The commitments in that regard by developed countries, including the pledge of $100 billion per year, remain unfulfilled. How much longer must developing countries wait for those commitments to be fully delivered on?
Although Guyana’s emission levels are already at net zero, we continue to pursue growth premised on a low-carbon development strategy. Our goal is to ensure that we use our resources sustainably to foster inclusive and equitable development for our people. As the country with the second-highest forest cover per capita in the world, we know the importance of forests in mitigating the effects of climate change at the global level. Our advocacy in that regard has resulted in Guyana being issued 33.4 million tons of carbon credits — the first jurisdictional-scale programme in the world. We have secured $750 million for the period from 2016 to 2030 so far. Guyana is committed to a clean-energy transition, and we are aiming for more than 80 per cent reliance on renewable energy by 2030. Technology, capacity and financing are key to developing countries’ ability to build a relevant energy mix and the necessary share of renewable energy. We are using revenue from oil and gas resources to finance our transition to renewable energy, despite our already globally recognized net-zero status.
Let me expound on the critical question of a just, affordable and equitable transition. Bloomberg estimates that achieving global net-zero emissions by 2050 requires annual investments of more than triple the 2021 level, to $6.7 trillion per year. To limit the global temperature rise to less than 2°C. the International Energy Agency (IEA) estimates that investment in the energy sector alone will have to increase by approximately $1 trillion annually. At the same time, in developing countries, the situation is more frightening, with close to 900 million people worldwide having no access to electricity. All of that has to be seen against the backdrop of a widening financing gap in achieving the Sustainable Development Goals, with adaptation alone estimated at between $160 billion and $340 billion by 2030. and between $315 billion and $565 billion by 2050. according to the United Nations Environment Programme.
More than 90 countries have committed to net-zero emissions. If we are to achieve that, the IEA estimates that by 2050 more than 85 per cent of buildings must be net-zero-carbon-ready, more than 90 per cent of heavy industrial production must be low-emissions and almost 70 per cent of electricity will have to come from solar photovoltaic sources. Based on those targets, the share of renewables in generating electricity will have to increase from 29 per cent in 2020 to 88 per cent by 2050. Meanwhile, in order to remove carbon from the atmosphere, the world will need to simultaneously halt deforestation and double the rate of the increase in
tree-cover gain by 2030. That means that by 2050. 7.6 gigatons of carbon dioxide will have to be captured and stored, compared to 0.4 gigatons in 2020. According to McKinsey & Company, it will cost $375 trillion in cumulative spending on physical assets to transition to net zero by 2050.
In the circumstances, the question is how realistic the transition path to net zero is. It is clear that the global ambition of net zero by 2050 is not currently realistic, given the cost of transition and the financing commitments made so far. I say all of that not to reduce ambition, but for us to honestly and frankly direct our energies to a more balanced approach to achieving net zero in a realistic environment. My country. Guyana, is blessed with the best of both worlds — that is. our ability to lead on climate change and to use our expansive oil and gas reserves can contribute to the advancement and development of our country and region.
But let me hasten to add that the twenty-eighth Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) will not achieve the desired objectives of definitively putting our planet on a net-zero trajectory if we continue to address this matter in a doctrinarian way. ignoring the current realities. Given the growth in demand for energy, a significant part of that demand will come from many in the developing world who continue to live in energy poverty. It is also a fact that renewables will not meet the growth of demand in the near future. If the debate at COP28 is framed by two camps — one calling for no cuts in fossil-fuel production, including its most polluting forms, such as coal, and the other saying that the only solution to net zero is an end to fossil fuel production — we will fail once again to achieve a viable outcome and give our world the energy it needs to grow and prosper.
I believe that net zero by 2050. as a target, can be achieved only by a combination of measures that include cuts in fossil-fuel production, incentivizing the introduction of renewables at scale, exploring advances in technology in using carbon capture and storage, curtailing deforestation and land degradation and introducing measures to curb demand for energy. As custodians of a rainforest the size of England and Scotland combined, we are of the view that the lack of financing for standing forests suggests that they are worth more dead than alive. That is why we support the expansion of financial mechanisms that appropriately value the environmental services provided by forests, including through the carbon market.
We are at the midpoint of the implementation of the 2030 Agenda for Sustainable Development — our global blueprint for sustainable and resilient development. Financing is the cornerstone of all efforts to achieve the Sustainable Development Goals (SDGs) and the challenges faced by developing countries, including the funding gaps, which I highlighted at the SDG Summit. Commitments, including the commitment made 50 years ago to provide 0.7 per cent of gross national income in official development assistance, must be fulfilled. The existing financial architecture is incapable of addressing current global challenges and must be reformed. In that regard, the reform agenda must include the early adoption of a multidimensional vulnerability index that implements the measures contained in the Bridgetown Initiative and addresses liquidity support, private capital, development lending, trade and more inclusive governance of the international financial institutions.
The world is currently experiencing a global food crisis marked by soaring food prices, heightened food insecurity and increasing levels of hunger. Conflict, climate change and the effects of the pandemic contribute to that dire state of affairs. Approximately 119 million people in 26 least developed countries have faced severe food insecurity since the beginning of 2022. Due to rising food prices and trade restrictions, the situation has worsened. By 2030. it is estimated that nearly 670 million people, equivalent to 8 per cent of the global population, will suffer from undernourishment. Global agrifood systems must be urgently transformed to ensure that they are more resilient and that nutritious food is affordable for all. We also condemn the weaponization of food as an instrument of war.
Guyana welcomes the convening of the three high- level meetings on health and the important commitments contained in the respective political declarations. But we must together move rapidly to implementation if we are to achieve universal health coverage for all and be adequately prepared for future pandemics. Guyana has already made tremendous strides on a path to universal health coverage. In doing so. we increased our per capita health spending by 64 per cent in the past three years.
Global peace is hinged on respect and human dignity. Our work at all levels must advance the dignity and rights of every person on our planet in order to create
a just, equitable and peaceful world. We have noted that, since the war began in Ukraine more than one year ago. the developed world has provided approximately $220 billion in support to Ukraine, while the World Bank added more than $37.5 billion in emergency financing — a total of almost $260 billion mobilized in less than two years. On the other hand, aid to the Palestinian people over a period of 26 years amounted to just over $40 billion, according to figures compiled by the Organization for Economic Cooperation and Development (OECD). Haiti has received just over $20 billion in aid for reconstruction and development over the past 60 years. According to the OECD. African countries were recipients of just over $113 billion over a three-ye ar period to fight hunger. To be clear. Guyana unequivocally supports the principles of sovereignty and territorial integrity, as enshrined in the Charter of the United Nations, and remains in full solidarity with the people of Ukraine and what they justly require from the international community. However. I cannot overlook the disparity in the approach to other countries and regions of the world. That must be corrected. Clearly, that is a demonstration of an unjust ecosystem surrounding and supporting development financing, peace and security. Importantly, it also proves that, if truly committed, mechanisms exist to unlock financing at scale.
Adherence to the rule of law. including international law. must continue to be the cornerstone of all our engagements. That is being undermined by threats and naked acts of aggression against sovereign States and by the perpetuation of old conflicts and disputes among States. The Russian invasion must end. Greater diplomatic efforts must be made to bring an end to the war. The ongoing crisis in Haiti is of grave concern. Urgent and decisive action must be taken to secure a comprehensive solution. I commend the offer of the Governments of Kenya and Rwanda to lead a multinational force in Haiti, as well as the offers by the Bahamas and Jamaica. Guyana is committed to working closely with partners within the United Nations and Caribbean Community (CARICOM) frameworks to find a long-lasting, stable and sustainable solution to the Haitian crisis so that our Haitian brothers and sisters can live in peace and dignity.
The Republic of Cuba has been the object of aggression for more than six decades. We repeat our call for the dismantling of the unacceptable embargo against our sister Caribbean State. The economic and political aggression, along with the designation of Cuba as a State sponsor of terrorism, must come to an end.
I also reaffirm Guyana’s long-standing solidarity with the Palestinian people and support for their dignified existence in their homeland, in accordance with the two-State solution. As States Members of the United Nations, let us do more to move past rhetoric so that the peace process can progress.
When I addressed the Organization of American States (OAS) last Friday. I recalled to that hemispheric body how Guyana was excluded from the OAS for 25 years after its birth as a nation, on account of a spurious territorial claim to two thirds of our homeland by Venezuela. But justice prevailed, and Guyana was ultimately admitted. It is sad. however, that 57 years after Guyana’s independence, we remain threatened. Venezuela’s efforts to undermine our freedom, sovereignty and territorial integrity are today before the International Court of Justice, as decided by the Secretary-General, under the Geneva Agreement of 1966. The jurisdiction of the International Court of Justice in the matter has been twice affirmed by the Court. We are confident that Guyana’s sovereignty and territorial integrity will also be affirmed when the Court issues its final judgment.
I regret to inform the Assembly that Venezuela’s threats continue. Just last night. Guyana received a very threatening message from Venezuela, in the form of a communique attacking Guyana for putting certain oil blocs in our sovereign waters up for bid. Guyana considers that a threat to regional and international peace and security, as well as to Guyana’s investment partners. We demand that Venezuela honour its obligation under the Charter to pursue only peaceful means to settle any disputes it may have with Guyana, including adjudication before the International Court of Justice. Allowing the Court to decide would ensure a resolution that is peaceful, equitable and in accordance with international law. Guyana will spare no effort in defending its sovereignty and territorial integrity. I express appreciation to every member of the international community that has continued to support Guyana’s efforts to preserve its sovereignty and territorial integrity.
As Guyana takes its place next January as a member of the Security Council, those principles of international law and justice, so prominent in the Charter of the Organization, shall be our guide. And I therefore
express heartfelt gratitude for the overwhelming support of Member States for our candidature to the Security Council for the 2024—2025 term. I wish to assure the entire United Nations membership that Guyana is committed to working with fellow Council members and the wider United Nations membership to fulfil the mandate of the Security Council. As I reflect on the state of growing insecurity in the world, let me also reiterate the calls made by CARICOM for the early and urgent reform of the United Nations Security Council to make it more effective and inclusive.
September is the month dedicated to Indigenous people in my country. We are aware that, globally, indigenous peoples are often left behind. That is not the case in Guyana. My Government is investing heavily in Indigenous peoples’ development, ensuring their inclusion and participation in decision-making at all levels. Our land-titling programme has resulted in Indigenous peoples obtaining legal ownership of 16.4 per cent of Guyana’s land mass. In addition to regular Government investment. 15 per cent of all proceeds from the sale of carbon credits go directly to Indigenous villages to finance their development. Guyana is the first country to implement such an initiative. We are proud of our record and stand ready to share our experiences.
Allow me to conclude by renewing Guyana’s solidarity with the peoples of the world, our commitment to multilateralism and our readiness to partner with States large and small in the quest for peace and prosperity for all.