Exxon’s flaring equivalent to loss of 4,642 hectares of forest -would be valued at US$24M under forest pact with Norway
-flaring equal to destroying 6.2 hectares of forest per day continuing
Exxon’s flaring of over nine billion cubic feet of natural gas since oil production began in December is equivalent to the loss of 4,642 hectares of forest, which would be valued at US$24 million based on the carbon price under Guyana’s forest protection pact with Norway, says conservationist Dr David Singh.
Singh, who was deeply involved in the Guyana-Norway forest pact as head of Conservation International-Guyana, is now the World Wildlife Fund’s (WWF) Director for the Guianas.
He told Sunday Stabroek in an interview that the WWF is closely monitoring ExxonMobil’s flaring and cautioned that countries like Guyana must not allow the fossil fuel industry to free-ride on their low carbon economies.
“WWF is monitoring the situation closely.
As scientists predict that we no longer have years but months to address our carbon emissions globally, the fossil fuel industry must play an increasing role in curtailing – not increasing their carbon emissions,” Singh said.
