Press Release – Who Benefits from Guyana’s Extractive Industries?

Release Date: November 16, 2020

The document from Policy Forum Guyana discusses the significant financial and environmental costs of Guyana’s extractive industries, particularly in mining. It highlights the discrepancy between the declared value of gold and diamond production and the government’s revenue, which is less than 10% of the total value, suggesting a loss to the Guyanese people. The report also points out the environmental damage caused by mining activities, such as river pollution and deforestation, and questions the rush to extract resources given the substantial oil and gas receipts that could fund Guyana’s development. It calls for a reevaluation of the extractive sector’s practices, considering the rights of current and future generations, and alignment with the Paris Climate Accord. Policy Forum Guyana urges a serious conversation about the sustainable management of natural resources and the enforcement of the ‘Polluter Pays’ Principle.
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