Hess Corp., government of Guyana announce REDD+ carbon credits agreement

Hess Corporation and the Government of Guyana announced an agreement for Hess to purchase high quality carbon credits for a minimum of $750M between 2022 and 2032 directly from the Government of Guyana. This agreement will serve to support Guyana’s efforts to protect the country’s vast forests and provide capital to improve the lives of Guyana’s citizens through investments made by the Government as part of Guyana’s Low Carbon Development Strategy 2030, Hess said in a statement. The multi-year agreement is for 37.5 million REDD+ jurisdictional carbon credits. These credits will be on the ART registry and will be independently verified to represent permanent and additional emissions reductions under ART’s REDD+ Environmental Excellence Standard 2.0