Chevron completes Hess acquisition

July 18, 2025

Chevron prevails over Exxon Mobil in legal dispute over offshore assets.

Chevron completed its $53-billion acquisition of Hess, after prevailing against Exxon Mobil in a legal dispute over offshore assets in Guyana.

The ruling by the Paris-based International Chamber of Commerce is a notable victory for Chevron, which sought to buy Hess to gain access to prolific Guyana oil reserves, one of the world’s most valuable oil developments. The deal had been tied up for nearly two years after Exxon and China National Offshore Oil Corp. filed an arbitration case with the ICC, claiming a right of first refusal over Hess assets in the petroliferous offshore Stabroek Block.  The dispute created significant uncertainty over whether Chevron’s acquisition of Hess would close, weighing on Chevron’s stock performance. The transaction would have failed if Exxon had prevailed.

Hess has a 30% stake in the Stabroek Block, while Exxon leads the project with 45% and CNOOC maintains 25%. One of the most promising in the world, their project is expected to single-handedly produce about 1% of world oil within a few years, according to the International Energy Agency.

CNOOC said it was disappointed. Exxon disagreed with the arbitration panel’s decision and said in a statement,

“We disagree with the ICC panel’s interpretation but respect the arbitration and dispute resolution process. We welcome Chevron to the venture and look forward to continued industry-leading performance and value creation in Guyana for all parties involved.”

As the combination moves ahead, Chevron CEO Mike Wirth told CNBC that he anticipates “some” headcount reductions. Chevron had been reducing staff, after announcing in February plans to lay off 15% to 20% of its workforce in an effort to cut costs.

Hess Corp.

 

 

ExxonMobil’s loss is Chevron’s gain

High-stakes arbitration over Hess Guyana oil assets ends

July 18, 2025, by Melisa Cavcic

Texas-headquartered energy giant ExxonMobil and its PRC partner, CNOOC, did not secure victory in arbitration proceedings over U.S.-based Hess Corporation’s sale of interests in assets offshore Guyana. This clears the key merger hurdle in Chevron’s path, enabling it to bring Hess’ upstream portfolio into its fold.

In the aftermath of the first offshore discovery in 2015, Guyana entered the limelight as the world’s fastest-growing petrostate, thanks to exploration success on the Stabroek Block, covering 6.6 million acres or 26,800 square kilometers, operated by ExxonMobil (45% interest), with partners, Hess Guyana Exploration (30%) and CNOOC Petroleum Guyana (25%).

Once Chevron’s $53 billion all-stock deal to acquire Hess Corporation became public knowledge in October 2023, ExxonMobil and CNOOC, Hess’ partners in the Stabroek block, intervened to prevent the sale of assets in Guyana by filing cases before the International Chamber of Commerce (ICC) in March 2024. The two companies justified their move by citing a right to a first refusal over any sale of the U.S. player’s 30% interest in Guyana’s petroliferous offshore block under the existing joint operating agreement.

As a result, arbitration proceedings delayed the Chevron-Hess merger, dragging the business combination closure date into 2025. However, the duo managed to make inroads in progressing the merger by securing Hess stockholder approval and clearing the Federal Trade Commission (FTC) antitrust review.

Both investors were adamant that preemptive rights in the Stabroek block Joint Operating Agreement, used as a reason to launch the arbitration, do not apply.

 

 

Chevron finalises $53-billion Hess acquisition

PARIS, July 18, 2025

With longing eyes on Guyana, Chevron finalised its USD 53-billion acquisition of Hess, gaining access to the Stabroek block offshore Guyana, after a favourable Paris arbitration ruling. The International Chamber of Commerce rejected ExxonMobil’s challenge to the deal, clearing Chevron to join ExxonMobil and CNOOC in one of the decade’s largest oil discoveries. ExxonMobil said,

“We welcome Chevron to the venture and look forward to continued industry-leading performance and value creation in Guyana for all parties involved.”

Hess brings to Chevron a high-growth portfolio including its stake in the Stabroek block and shale properties in North Dakota’s Bakken Formation.

“The strategic combination of Chevron and Hess creates a premier energy company positioned for the future,” former Hess CEO John Hess said .

The US Federal Trade Commission also lifted restrictions, allowing John Hess to join Chevron’s board, pending approval. Chevron first announced the deal in October 2023, shortly after ExxonMobil revealed its USD 60-billion acquisition of Pioneer Natural Resources.

 

 

 

Chevron victory means mending rift with Exxon

David Wethe and Mitchell Ferman, Bloomberg July 18, 2025

As the dust settles from a bruising legal battle over the world’s marquee oil bonanza, leaders of Exxon Mobil Corp. and Chevron Corp. confront a new challenge: future collaboration. Chevron’s victory in an international arbitration dispute initiated by Exxon allows the $53 billion takeover of Hess Corp. to proceed.

The prize for Chevron CEO Mike Wirth is a highly coveted stake in a cache of premiere oil discoveries.

The catch is that Exxon is the majority owner and operator of those Guyana oilfields, meaning two of the world’s largest energy behemoths must mend any lingering rift and forge a prudent partnership.

Time will clear any rancour in a mature, vital global industry as courteous Americans and civilised oilmen foster diplomatic peace for progress. Wirth said,

“We tried early on to resolve this and thought we were working together in good faith. And then abruptly we were notified that the other parties decided they wanted to decide through arbitration.”

Even so, Wirth extended an olive branch to Exxon CEO Darren Woods, whose demand for arbitration threatened to derail the biggest deal of Wirth’s career. For its part, Exxon indicated acceptance of Wirth’s peace offering, pledging to “welcome Chevron to the venture.” The 30% stake in a tranche of Guyana crude discoveries is the crown jewel of the deal, the zenith of Wirth’s seven-year tenure as CEO .

“Partnership is one of our core values and we pride ourselves on being a good partner around the world with different companies. We partner with Exxon on projects elsewhere in the world and have for many years and I’m sure we will find a way to move forward.”

Exxon’s surprise March 2024 demand for arbitration to halt Chevron’s acquisition of Hess cast a cloud over the suitor company and its share price, questioning Wirth’s ability to amass sufficient undrilled oil reserves to bolster future production. All doubts have evaporated. The industry expects former foes to return to business as usual, which for international oil giants routinely involves multibillion-dollar partnerships to execute some of the riskiest ventures on the planet. Congratulations to the clever consortium.

 

 

Exxon responds to Guyana arbitration ruling

July 18, 2025

ExxonMobil released a formal statement following a ruling by the International Chamber of Commerce (ICC) Tribunal related to its contractual dispute with Hess Corporation over interests in the Stabroek Block offshore Guyana.

STATEMENT:

“We disagree with the ICC panel’s interpretation but respect the arbitration and dispute resolution process. As we’ve said before, ExxonMobil and CNOOC are aligned that we had a duty to ensure contract terms are always adhered to and not set a bad precedent for ourselves and industry.

Given the significant value we’ve created in the development of the Guyana resource, we believed we had a clear duty to our investors to consider our preemption rights to protect the value we created through our innovation and hard work at a time when no one knew just how successful this venture would become.

We welcome Chevron to the venture and look forward to continued industry-leading performance and value creation in Guyana for all parties involved.”

Oil Output To Grow by 50%

July 04, 2025
Sinchita Mitra
SA News Editor

Summary

1. 1. 1. Exxon Mobil is set to boost Guyana’s production by 50% with a new platform.
      2. Management is confident in winning the right of first refusal dispute.
      3. Guyana’s profits surged 64%.
      4. Exxon’s advantaged assets and growth prospects support its stock’s resilience and appeal.
      5. Guyana should continue to add one FPSO a year (maybe to 15 months) for the next several years. This idea was discussed with members of Oil & Gas Value Research.

Torsten Asmus

Exxon Mobil Corporation is about to report the major things that make an earnings difference for the coming quarter. However, probably one of the more significant items is that Exxon Mobil is about to increase Guyana production by about 50% when the fourth platform starts up.

Management is reported to be confident about winning its dispute with Chevron Corporation and Hess Corporation, regarding its right of first refusal. That could lead to an even more significant jump in advantaged asset earnings should the company actually be able to purchase the Hess share of the Guyana partnership. The decision on this arbitration should be available in the second half of the fiscal year.

Profits in Guyana were up 64% to roughly $4.7 billion. This was more than 10% of Exxon Mobil’s adjusted (total) earnings. But importantly, that rapid growth is underpinned by the addition of roughly one platform per year , or at most 15 months roughly. Those continuing deliveries of platforms assure a long-term growth in earnings that will be faster than the overall company growth rate for some time to come..

 

 

ExxonMobil relinquishes 20% of Stabroek block

Fabio Palmigiani
South America Correspondent

7 July 2025

US leviathan made 46 discoveries in the area to date since 2015.

Supermajor ExxonMobil officially relinquished 20% of the area of the prolific Stabroek block offshore Guyana. The decision to return part of Stabroek to the government is outlined in the production sharing contract and refers to the return of sections of a block after a stipulated amount of time has elapsed and no commercial discoveries have been made.

According to Guyana’s Ministry of Natural Resources, the 20% segment being relinquished, which equates to 2534 square kilometres, [ 1/8 of the area of Wales ] excludes any section related to discoveries, appraisals or production activities. The Stabroek block has been the site of multiple significant discoveries, now undergoing evaluation and appraisal to determine their commercial potential.

ExxonMobil has so far made 46 discoveries in Stabroek that resulted in over 11 billion barrels of oil equivalent in recoverable resources. The company is currently producing about 675,000 barrels per day of oil in Guyana via three units — the Liza Destiny, Liza Unity and Prosperity floating production, storage and offloading vessels — in the Liza and Payara fields.

 

 

 

Port development to enhance trade, economic growth

July 23, 2025

President Dr. Mohamed Irfaan Ali promised the Shipping Association of Guyana that the Government will increase investments in port development in the next five years to enhance trade, competitiveness and economic growth. The government wants to upgrade and expand ports to handle more maritime trade and create a regional hub.

“Our economy is growing and will continue to grow. With growth comes greater demand for imports and greater volume of exports…We are advancing plans to deepen the Demerara Harbour. This is critical. The depth of the harbour must match the scale of vessels in modern, global trade. Deep waters will allow larger ships to dock, reduce shipping costs and make Guyana more attractive as a regional hub.”

To support these works, the government is in the process of designing a modern Port Act. The goal is to ensure that oversight, regulations and operations are managed professionally, independently and in the best interest of Guyana.

“This legislation will govern the development, regulation and oversight of port operations in Guyana. It will ensure efficiency, safety and transparency in the maritime sector. The work to establish an independent port authority is part of this process…We want our ports to be competitive, reliable and future-ready. The work of the proposed authority will be supported by modern legislation and regulations, aligned with international standards.”

The government remains committed to building a shipping and port infrastructure that matches Guyana’s ambitions and a new deep-water port in Region Six will directly connect Guyana to Brazil, South America and the wider Caribbean markets.

This scale of the project will transform Berbice into a major international trade corridor.
Guyana is collaborating with partners and other countries to eliminate trade barriers and boost competitiveness in the region.

Guyana wants to be a key food hub, focusing on the US$5 billion seafood market and developing its maritime economy. Investments are being made in new ferries and transport infrastructure to improve farmers’ access to markets and increase exports. Region One will benefit from another ferry in three months.

“We are building out a transport infrastructure from Moruca to support our farmers so that they can bring their production to Charity.. we are going to buy a modern, cold-storage package facility.”

A modern port equipped with state-of-the-art facilities is being built at Parika. When completed, it will allow farmers to export their produce to regional markets. Substantial investments to develop waterfronts at Vreed-en-Hoop and Stabroek will enhance maritime capabilities, trade and commerce. Plans are in place to ensure these are equipped with a marina and facilities for cruise liners to dock in Guyana, making these areas more tourist-friendly. The government aims to develop the maritime sector through human capital development, certification and modernisation of regulatory frameworks.

“It is a remarkable future ahead of us. We have to get all of these things done quickly. We have a very defined plan for every sector, including the maritime sector. …Looking at the future demand over the next five to seven years, we will need to train at least 2,000 persons to work in this sector. Our port facility is important. We are working with the US on building out our port security system to be strong and trusted. That is important because the international markets need to trust our ports.”

 

 

Oil & Gas funds STEM revolution through strategic partnerships

July 6, 2025

Science, Technology, Engineering, and Mathematics (STEM) education will play a crucial role in determining Guyana’s economic trajectory and future growth. A comparison of Guyana’s economy from five years ago to today reveals marked progress, driven significantly by the emergence of the petroleum sector. With increasing investment, job creation and infrastructure development, the country’s growth potential is unprecedented.

Accelerating STEM education of youth is more important than ever. Since the start of oil production , the job and business landscape has evolved rapidly. While traditional employment sectors remain relevant, demand is growing for technologically skilled professionals and businesses that can support a dynamic, high-tech industry.

The University of Guyana, with support of ExxonMobil Guyana, enhanced its Mechanical Laboratory at the Faculty of Engineering and Technology (FET) to deliver world-class engineering education. The university procured equipment that replaced older machines.

The investment ensures that students are better equipped for a rapidly evolving economy. Exxon supported the Advanced Scholars Programme, funding 31 academic members to obtain PhDs and EdDs at Arizona State University.

The initiative promoted action research throughout Guyana, tackling critical challenges in agriculture, forestry, energy, education, indigenous communities, water, pollution, biodiversity and technology. The scholars returned to Guyana and are contributing to teaching, research, and administrative functions at the university, transferring knowledge.

The Greater Guyana Initiative, a US$100 million, non-cost recoverable 10-year investment by the Stabroek Block co-venturers – ExxonMobil Guyana Limited, Hess Guyana Exploration Limited, and CNOOC Petroleum Guyana Limited contributes to STEM education.

Through a five-year collaboration with the University of Guyana, the GGI invested in the construction of a state-of-the-art Science and Technology Building, which will be completed soon. They retrofitted the Skills and Anatomy Lab, a pivotal component in training healthcare professionals, providing invaluable insights into functional anatomy, and creating a skills-based learning environment to enhance the practical aspects of undergraduate training.

This is coupled with the support of a cutting-edge Geographic Information Systems (GIS) and Remote Sensing Data Lab, poised to revolutionise data analysis capabilities and enhance the utilisation of GIS technology, enabling individuals worldwide to access critical data resources seamlessly by bridging geographical barriers and facilitating information sharing across different regions.

The ultimate goal of the investments is to extend the disciplines offered in STEM so that thousands of students who wish to develop careers can access those opportunities locally. Oil-and-gas companies operating in Guyana have recognised this shift and are actively contributing to building STEM capacity. Their support is enhancing education and skills-training and creating pathways for locals to meaningfully participate in, and benefit from, the country’s energy transformation.

The Regional Accelerated Specialised STEM Readiness (RASSR) project, supported by the GGI, targets the younger population aged 10-12 from across the country. The initiative fosters critical thinking, problem-solving skills and a passion for innovation, equipping the young pupils to be the future leaders and innovators.

The Government of Guyana plays a pivotal role in advancing STEM education through national policies and strategic partnerships. The Ministry of Education introduced curriculum updates and teacher training initiatives focused on science and technology, while the University of Guyana continues to expand STEM-related programmes. The government’s Local Content Policy further supports STEM by encouraging companies to hire and train Guyanese talent in technical fields.

With a growing array of capacity-building programmes, Guyana is taking bold steps to prepare for a future grounded in innovation and technology. These efforts will reduce reliance on foreign expertise and ensure more citizens can fill critical STEM-related roles.

Equally important are entrepreneurial opportunities since local innovators can now create businesses that offer vital support services to oil and gas operators. As the energy sector expands, so too must investment in people. STEM education is the foundation for a self-sufficient, prosperous and future-ready Guyana. With continued collaboration between the private sector, government and academic institutions, the country is not just drilling for oil; it’s tapping into its greatest resource – its people.

 

 

GTE project

July 3, 2025

Dr Bharrat Jagdeo told media that the technical consultant assured the Government of Guyana that separation of Gas-to-energy (GTE) contractors Lindsayca and CH4 will ensure the project is delivered within the stipulated timeline, by the second quarter of 2026.

“We’re told that this is to facilitate the completion of the project by deadline…[this] would allow them to accelerate the work.“

Dr Jagdeo said the government’s primary focus is to ensure the project is completed and the attributed benefits are derived.

The vice president stated that this change in structure will not affect the already-guaranteed loan from the US Export-Import Bank which amounts to US$527 million.

The US-based companies have the responsibility of completing the integrated facility that will process the gas and convert it into power. Indian company Kalpataru Projects International Limited is tasked with establishing transmission lines and substations needed to deliver the electricity to the national grid. This work is currently ongoing.

Before this, ExxonMobil completed its portion of the project by laying the pipeline that will allow the gas to be transported from the offshore Stabroek Block to the power plant, to be located in the Wales Development Zone, West Bank Demerara.

The GTE project will double the generating capacity whilst simultaneously reducing the cost of electricity by 50 per cent. The cost reduction is expected to significantly increase manufacturing activity, pushing Guyana closer to a self-sufficient nation.

Additionally, the project will reduce the cost of cooking gas since part of the project entails a Natural Gas Liquids (NGL) facility, which will be commercialised for maximum benefits to be passed onto the citizens.

 

 

UG and European chamber in Guyana sign MOU

July 9, 2025

The University of Guyana (UG) and the European Chamber of Commerce (Guyana) last Wednesday, July 2, 2025, signed a Memorandum of Understanding (MoU), launching a transformative Global Exchange Initiative.

This agreement is set to provide UG students with unprecedented opportunities for international internships, academic mobility and cultural exchange across Europe, while also facilitating reciprocal visits by faculty and students and capacity-building for European educational institutions.

The signing ceremony in the Office of the Vice-Chancellor at UG Turkeyen Campus, marked a significant stride in UG’s dedication to equipping students with global competencies and enhancing their readiness for the international workforce.

 

 

Guyana wears the energy crown, touts economic might and biodiversity

July 6, 2025

In the last 50 years, the world lost over 50% of its biodiversity but Guyana, a ‘green’ leader, shows that economic growth and sustainable development need not be mutually exclusive.

Through the vision of President Dr. Irfaan Ali, the petrostate preserves biodiversity, with tangible solutions that translate environmental stewardship into economic opportunity.

Guyana retained its high biodiversity with over 85% of its forest cover. It built its economy with a Low-Carbon Development Strategy (LCDS) 2030 as a national development and environmental plan, demonstrating that wealth creation and nature conservation can go hand in hand.

Focus on actions rather than rhetoric distinguishes Guyana. While COP meetings promise  with little progress, Guyana developed effective products and programmes that function. The ground-breaking carbon credit scheme generated over $4.7 billion for Indigenous communities, proving that natural resources can deliver income, fairly and effectively.

This is being expanded by the Global Biodiversity Alliance, an initiative President Ali introduced at the UN General Assembly. The following Global Biodiversity Alliance Summit, to be held July 23-25, 2025 in Georgetown is a once-in-a-lifetime chance to establish an international market for biodiversity credits.

It also aims to establish quantifiable targets for biodiversity conservation.

Lofty goals of the summit include creating new financial tools like biodiversity credits, ‘green’ bonds, debt-for-nature swaps and support for the 30×30 Goal of conserving at least 30% of lands and oceans by 2030. Significantly, it will formally integrate biodiversity into climate negotiations and financing at future COP meetings, ensuring biodiversity gets the global attention it deserves.

President Ali’s frustration with lack of action is evident and valid. “We’re tired of pledges that don’t materialise,” he stated plainly.

The world has seen many environmental summits and declarations, yet biodiversity loss continues. As investors flock to the hydrocarbon hotspot, Guyana is creating real financial tools that reward conservation while supporting sustainable livelihoods. The special economic system Guyana created has direct dividends to the Indigenous communities, which protected the forest for centuries.

Receiving direct payments through carbon credit sales, they fund over 1,700 life-changing projects in 242 villages. This model recognises that conservation of the environment and social justice are linked. The market forces Guyana is developing for biodiversity fit exactly into global trends towards nature-based solutions and economic valuation of natural resources.

As world ecosystems become increasingly appreciated for economic reasons, Guyana’s model offers a pragmatic way to finance biodiversity without sacrificing environmental health and equity. Critics argue that commodifying nature has the potential to simplify sophisticated ecosystems.

Guyana’s experience demonstrates that valuing and paying for the delivery of ecosystem services can provide powerful incentives for conservation. The alternative, assuming that biodiversity is a free good, has been widely unsuccessful, as evidenced by the cataclysmic collapse of species and habitats.

Timing of this biodiversity initiative by Guyana is imperative. The financing gap for biodiversity at the global level is estimated at $598-$824 billion yearly.  Innovative market solutions are essential to raise funds required for conservation. Guyana’s position in this realm allows it to influence global environmental policy and derive significant benefits from its natural resources.

COP30, the 2025 United Nations Climate Change Conference, or Conference of the Parties of the UNFCCC, will be held in Belém, Brazil, from 10 to 21 November 2025. Guyana’s biodiversity summit will yield important lessons and actionable advice on mainstreaming biodiversity into climate finance.

The product of this summit accrues benefits for Guyana and is a model for other nations with high biodiversity levels wanting to achieve a balance between development and conservation.

Guyana’s shift from climate pioneer to biodiversity trailblazer is not just policy innovation, but a fundamental change in the way we understand human-nature relations. By its example of how natural resources can create sustainable wealth while preserving ecosystems for future generations, Guyana is creating a new model for global environmental governance.

The world should take notice of Guyana’s pragmatic vision holding the promise of an economic future when prosperity and greenery are mutually reinforcing strategies and not competitive goals.

 

 

 

 

Guiana Shield, UN REDD+ Program lead biodiversity conservation

July 22, 2025

Urging the world to embrace Guyana’s vision for people and planet, President Dr. Mohamed Irfaan Ali hailed the global powerhouse in biodiversity, highlighting its vast intact ecosystems that rival those of larger nations.

Amid biodiversity loss and ecosystem degradation, Guyana continues to preserve over 85 percent of intact pristine rainforest, supporting vibrant and connected ecosystems across its landscape.

Guyana’s highly endemic biodiversity punches above its weight on the global stage. A rich variety includes over 1,200 bird species, 225 mammal species and nearly 8,000 plant species, many endemic to the ancient pre-Cambrian Guiana Shield, containing the world’s largest unfragmented tropical forest block.

Mountain systems forming watersheds between the Amazon and Orinoco rivers, savannahs and wetlands, holding 10-15% of world fresh water reserves are a global resource for the survival and sustainability of the planet. 50 million hectares of tropical rainforest store around 50 billion tonnes of carbon and sequester 500 million tonnes of CO2 per year.

Preservation of these ecological values is thus of crucial interest.

Guyana’s ecological success is attributed to deliberate policies under the Low Carbon Development Strategy (LCDS) 2030, which integrates sustainability into development plans. President Ali stressed that nature is not a constraint to development but a foundation for it, with rainforests, wetlands, rivers and savannahs serving as working landscapes to benefit people and planet.

The REDD+ for the Guiana Shield Project is a part of the UN REDD+ Program (Reducing Emissions from Deforestation and Forest Degradation, plus Conservation and Sustainable Development), funded by the European Union, the French Guyana Regional Authority and the French Global Environmental Facility. In these development cooperation initiatives, the multilateral donor agencies include Suriname, Guyana, French Guiana and Northern Brazil .

 

 

 

International Climate Finance

July 22

UK Foreign Secretary David Lammy praised the innovative strategies to secure recognition for stewardship of forests, positioning the petrostate at the forefront of climate negotiations. Crucial to the Guiana Shield and the Amazon Basin, Guyana is well placed to lead this agenda. The UK International Climate Finance initiative allocated over US$15.7 billion to climate-resilient projects and will continue to support proactive efforts in Guyana

The importance of biodiversity is recognised and honoured by Britain which remains committed in development spending to support climate initiatives, to emphasise nature as well as climate… absolutely 100 per cent to support biodiversity loss, ensuring employment and livelihoods and standing alongside…Amerindian communities.

The UK is stepping forward , committed to its pledge in ICF funding. Philanthropists and other private donors can support climate financing by matching amounts allocated by the UK.

This underscores the need for the global private sector to play a role in footing the climate bill.

Guyana is promoting biodiversity conservation and aims to discuss global solutions as host of the Global Biodiversity Alliance Summit from July 23–25 in Georgetown, a landmark event that will bring together world leaders, scientists and indigenous voices to accelerate progress toward the 30×30 global biodiversity target.

 

 

 

Global Biodiversity Framework Fund

July 23, 2025

In virtual remarks, UK Foreign Secretary David Lammy MP warned that biodiversity loss is a serious threat as climate change.

“The impact of lost biodiversity hotspots is felt from Georgetown to London in the food we eat and the air we breathe.” Action includes raising finance via innovative tools such as “green bonds” and biodiversity credits, investing in education and research to find nature-based solutions and empowering local and indigenous communities, the “best stewards of nature.”

The UK is one of the top contributors to the Global Biodiversity Framework Fund, which helps developing countries access sustainable finance. The new £24 million National Environment Research Council Programme was launched this year to support innovative research on nature by ambitious, high-risk, high reward environmental projects and programmes on issues like strengthening local people’s forest rights.

Strong political will is required and President Ali’s leadership in advancing the importance of biodiversity, a gift from past generations to preserve and pass to the next generation.

 

 

 

Guyana, Yale University inks MoU to advance biodiversity

July 23, 2025

The Government of Guyana inked a historic agreement with Yale University Centre for Biodiversity and Global Change, marking the beginning of a strategic long-term collaboration that brings together science and technology to advance the protection of the world’s biodiversity. The Memorandum of Understanding (MOU) was signed on Wednesday at the inaugural Global Biodiversity Alliance Summit held at the Arthur Chung Conference Centre (ACCC).

Permanent Secretary in the Office of the President, Miss Abena Moore, signed on behalf of Guyana and Dr Alexander Quillian, Managing Director for the Centre of Biodiversity on Global Change, signed on behalf of Yale University.

The agreement will support Guyana’s work on the establishment of the global biodiversity alliance, which includes establishing an International Centre of Excellence for Biodiversity Research and creating a National Biodiversity Information System (NBIS) to help advance Guyana’s leadership in climate conservation.

When he announced the MOU today, President Dr Mohamed Irfaan Ali said the National Biodiversity Information System will track and visualise biodiversity using maps and data, guide how science can support smart decision-making and assist Guyana in protecting 30 per cent of its land and sea by 2030. Under this agreement, Guyana will have access to leading experts in global biodiversity, including E.O. Wilson Biodiversity Foundation, Map of Life (MoL), and the broader Group on Earth Observations (GEO) community. The first people of Guyana (Amerindians) will play an integral role in this development, with President Ali recognising the important role of the South Rupununi Conservation Society.

“No biodiversity strategy can succeed without the full involvement of those who live closest to nature, our indigenous peoples and local communities In the Rupununi, the discovery of the critically endangered Red Siskin (Spinus cucullatus) led to the formation of the South Rupununi Conservation Society…They have not only helped restore the species, but have built pride, income, and identity through ecotourism, education, and conservation.”

With almost 50 per cent of the world’s biodiversity lost, President Ali stressed that strong, resilient, sustainable partnerships are key to formulating a sustainable agenda for action.

 

 

 

Guyana will host Secretariat of Global Biodiversity Alliance

July 23, 2025

Fifteen global leaders and experts signed the ‘Georgetown Declaration’ that seeks to protect 30 per cent of the planet’s lands and oceans by 2030 and advance a united vision for biodiversity. The historic event took place during the ongoing Global Biodiversity Alliance (GBA) Summit . Guyana will serve as the permanent home of the GBA Secretariat, with a dedicated national team in place to coordinate and drive the alliance’s mission forward across its diverse  membership.

“Guyana has agreed that we’re going to host the secretariat here. We’re going to put the resources to host the secretariat here to follow up on the work of this alliance and conference,” President Ali stated ahead of the signing.

The document was signed by President Ali; President of the Dominican Republic, Luis Abinader; Prime Minister of Barbados, Mia Mottley; Prime Minister of St Vincent and the Grenadines, Dr Ralph Gonsalves, former President of the Republic of Colombia, Iván Duque Márquez; Chief Executive Officer of Conservation International (CI), Dr M. Sanjayan and Managing Director of the Yale University’s Centre for Biodiversity and Global Change, Dr Alexander Killion.

Other signatories include Executive Director of Frankfurt Zoological Society, Dr Christof Schenck; Senior Director of the Keller Science Action Centre, Dr Erin Hagen; Director of the Campaign for Nature, Dr Brian O’Donnell, Chairperson of the National Toshaos Council (NTC), Derrick John; Macushi Conservation Leader of the South Rupununi Conservation Society, Leroy Ignacio; Vice President of the Republic of Ecuador, María José Pinto; Principal Executive for Ecosystems and Biodiversity for the Bank of Latin America and the Caribbean, Mauricio Velásquez and Head of Origination EMEA, Environmental Products, Mercuria/ Silvania, James Cooper.

The committee and other stakeholders will meet Ambassador André Corrêa do Lago, President of COP30, to discuss and forge a path forward.

 

 

 

GBA- Guyana ecosystems value is $15.2B

July 23, 2025

Guyana’s ecosystems provide over US$15.2 billion in economic value annually, President Dr Mohamed Irfaan Ali told the Global Biodiversity Alliance Summit , proving that forests are worth more standing than destroyed. He unveiled new research from McKinsey & Company and Conservation International, which showed that 96 per cent of this value comes from non-market ecosystem services, like clean air, water, carbon storage, and biodiversity.

The forests of Guyana, not being cleared, not being sold, not being converted, are providing more economic value by standing than they would if destroyed. This is the very essence of a nature-positive economy.

Genetic resources alone, like plant compounds with medicinal potential, are worth $8.4 billion annually, while existence and bequest values, or what people are willing to pay to preserve nature, add another $3.6 billion.

Despite this enormous value, global funding for biodiversity remains severely inadequate, with only $200 billion invested annually, far short of the $700 billion needed to meet global biodiversity targets.

“this is not just an environmental imperative. This is an economic revolution.”

The Global Biodiversity Alliance, launched under Guyana’s leadership, is built on three convictions:

• • Biodiversity is the infrastructure of life
  • Measuring it is essential for action
  • Investing in it is a necessity, not a luxury

Its five pillars include:

1. 1. 1. Achieving the 30×30 conservation goal
      2. Integrating biodiversity into national and corporate planning
      3. Unlocking innovative finance like biodiversity credits and green bonds
      4. Empowering Indigenous Peoples and Local Communities
      5. Establishing global biodiversity tracking tools

 

 

The Global Biodiversity Alliance Summit ends on Friday, July 25

Biodiversity is foundation for food , health, economic security

July 23, 2025

President of the Dominican Republic Luis Abinader told the Global Biodiversity Alliance Summit that biodiversity is not an option but the foundation for food security, health and economic wellbeing, an ethical imperative and a condition for peace and prosperity. He emphasised the need for financial, technical and scientific cooperation to turn the challenge into sustainable opportunities for a better future.

“That is why we propose that this crisis be recognised as a priority at the regional level, and we invite the alliance to promote joint action for immobilising scientific, technical and financial cooperation to turn this challenge into sustainable opportunities. This Global Alliance for Biodiversity must transcend the declaration of principles.

We need a driving force of real measures and promoting finance solutions that ensure equity for the countries of the global south and in particular for the small island developing states.”

Due to the fragility of the ecosystems, preservation of biodiversity is more integral now than ever, adding that it is crucial for the continuity of life and the planet. The summit is the beginning of a global movement that combines action and vision.

Held from July 23-25, the Global Biodiversity Alliance Summit is a historic international gathering of leaders, scientists, and indigenous representatives who collaborated to coordinate global efforts to safeguard biodiversity. The summit is a platform for international cooperation and creative solutions to safeguard 30 per cent of the world’s land and seas by 2030.

 

 

 

Guyana maintained 95 per cent of tropical jungle

July 23, 2025

Guyana stands as a remarkable example of effective biodiversity protection, boasting an impressive 95 per cent preservation of its tropical rainforest, former President of Colombia, Ivan Marquez revealed at the Global Biodiversity Alliance Summit.

He bemoaned the significant loss of the Amazon Rainforest over the last four decades and the importance of ending deforestation.

“And people may believe that stopping that level of deforestation seems impossible. Well, the response is no, because we are in a country like Guyana that has been able to keep 95 per cent of its territory in tropical jungle successfully.”

Discussion should also highlight the importance of pricing carbon accurately, which will help to incentivise biodiversity protection and climate action.

“So it is important that carbon sinking is rightly compensated. The Amazon biome is sinking every year, accounting for almost 15 per cent of all global greenhouse gas emissions. But we need to put the right pricing on carbon.”

Lauding President Ali’s strategic vision in integrating biodiversity protection and climate action into Guyana’s development strategy by using the country’s natural resources to combat poverty, he highlighted the importance of a Low-Carbon Development Strategy (LCDS) and the integral role of indigenous communities in protecting global ecosystems.

Emphasising the need for a global movement to safeguard biodiversity with clear Key Performance Indicators (KPIs) and market-driven nature-based solutions, he proposed a Global Biodiversity Alliance grounded in practical solutions and market-driven mechanisms, with a strong emphasis on rationality, sound policies and sustainable development.

 

 

 

Indian Prime Minister participates in the 17th BRICS Summit in Rio de Janeiro

July 06, 2025

Empowered by a rapturous reception in Trinidad and Tobago, India’s buoyant Prime Minister Shri Narendra Modi was in ebullient form as the star of the 17th BRICS Summit in Rio de Janeiro, Brazil. Productive discussions on issues on the BRICS agenda, included reform of global governance, enhancing voice of the global south, peace and security, strengthening multilateralism, development issues and Artificial Intelligence. The globe-trotting Prime Minister thanked the President of Brazil for his warm hospitality and successful organisation of the Summit.

The Indian leader addressed the inaugural session on “Reform of Global Governance and Peace and Security” and a later session on “Strengthening Multilateral, Economic-Financial Affairs and Artificial Intelligence” which included participation by BRICS Partners and invited countries.

Leading the session on Global Governance and Peace and Security, Prime Minister Modi reaffirmed India’s commitment to enhancing the voice of the Global South.

Developing countries required greater support for sustainable development, in terms of access to climate finance and technology. He proposed reforming global organizations of the 20th century which lacked the capacity to confront challenges of the 21st century Advocating a multipolar and inclusive world order, he stated that global governance institutions such as the UN Security Council, IMF, World Bank and WTO must undergo urgent reform to reflect contemporary realities. He thanked the leaders for highlighting the urgency of UN Security Council reform and adopting powerful opinions on the issue in the Summit Declaration.

Addressing Peace and Security, Modi underlined that terrorism was a grave threat facing humanity. In this context, he noted that the Pahalgam terror attack in April 2025 was not just an attack on India but an onslaught on the entire humanity.

Advocating strong global action against terrorism, the Prime Minister noted that those funding, promoting or providing safe havens to terrorists must be dealt with in the harshest terms. He emphasized that there should be no double standards in dealing with terrorism.

He thanked the BRICS leaders for condemning the Pahalgam terrorism in the strongest terms. Urging BRICS countries to strengthen the global fight against terrorism, he emphasized that there should be zero tolerance in dealing with the menace as conflicts, from West Asia to Europe, were a matter of deep concern. India has always fostered dialogue and diplomacy to resolve such conflicts and was ready to contribute towards such efforts.

Guiding the session on “Strengthening Multilateralism, Economic-Financial Affairs and Artificial Intelligence”, Prime Minister declared that diversity and multipolarity were valued strengths of the BRICS. He stated that at a time when the world order was under pressure and the global community facing uncertainty and challenges, the relevance of BRICS was evident.

BRICS could play an important role in shaping a multipolar world. He offered four suggestions:

• one, the BRICS New Development Bank must follow demand driven principle and long-term sustainability for granting projects;
• two, the group consider launching a Science and Research repository which could benefit the global south countries;
• three, focus must be given to make the supply chain of critical minerals secured and resilient; and,
• four, the group should work for responsible AI – while examining the concerns of AI governance, it should also give equal importance to promoting innovation in the field.

At the conclusion of the Leaders’ Session, member countries adopted the ‘Rio de Janeiro Declaration’ [.pdf Link]. Full address of Prime Minister in the sessions on global governance, peace and security, and strengthening multilateralism, economic-financial affairs and artificial intelligence may be seen at the Links.

Rio de Janeiro, July 06, 2025