“Given the challenges in Guyana, good governance,Cheap China Jerseys, transparency and strong oversight must be the watchwords of any deal,”By Neil Marks in CopenhagenA leading global Non-Governmental Organisation (NGO) said yesterday Guyana needs to tackle corruption or the Low Carbon Development Strategy (LCDS) would not work.Guyana’s LCDS is how President Bharrat Jagdeo proposes to save 15 million hectares of rainforest in Guyana and embark on a “low carbon development” path.But for Gavyn Stewart of Global Witness, investors are wary of countries, like Guyana, where there is a high risk of corruption and unaccountability. Global Witness was the first organisation that sought to break the links between the exploitation of natural resources,Wholesale NFL Jerseys, and conflict and corruption.According to ratings produced by French export credit insurance company Coface,Nike NFL Jerseys China, Guyana ranks in Group D of the countries at highest risk for corruption. The ratings are based on: (1) macro-economic and political data and the business environment quality; and (2) the business climate rating reflects whether corporate financial information is available and reliable, whether the legal system provides fair and efficient credit protection and whether a country’s institutional framework is good for companies.Guyana stands to benefit financially if an agreement is reached at the UN Climate talks here in Copenhagen on Reducing Emissions from Deforestation and Forest Degradation (REDD).The LCDS is being developed to show how Guyana will use money that could come from a REDD scheme, which is rooted in the idea that rich countries pay poor countries to preserve the rainforests. Forests suck in carbon dioxide which flows out of large industries in rich countries.But Stewart, speaking at a press conference at the Copenhagen summit, said poor governance issues will prevent REDD from working. Global Witness wants any agreement on REDD to include monitoring mechanisms because most REDD countries face “profound governance challenges.”? Symptoms of these challenges he said are extensive illegality in the logging industry and “a climate of risk” for investors.“If governance is not dealt with,Cheap Jerseys Online, then, quite simply, REDD will fail,” said Stewart.It was the same point made by Dr. Rosalind Reeve, Forest Campaign Manager at Global Witness, when the organization invited President Jagdeo to London recently.“Given the challenges in Guyana, good governance, transparency and strong oversight must be the watchwords of any deal,” said Dr Reeve.Guyana is at the forefront of the REDD negotiations and likely to be the first country to sign an agreement with the World Bank’s Forest Carbon Partnership Facility (FCPF).Benoit Bosquet,Cheap NFL Jerseys China, Partnership Coordinator of the FCPF, told Kaieteur News yesterday the World Bank is currently preparing a US$3.6 million grant to help Guyana prepare a monitoring, reporting and evaluation system, “before the real money starts flowing.”Stewart argued that while developed countries also have their own corruption issues, they have been more open. As examples, he pointed to Freedom of Information legislation to force governments to reveal documents of public interest. Guyana has no Freedom of Information legislation.Guyana lies at the heart of the Guiana Shield, one of the world’s last four intact rainforests. Forests make up over 85% of the country’s land area. It also has one of the highest levels of biodiversity of any country in the world, with approximately 8,Cheap Jerseys For Sale,000 plant species, half of which are endemic.Guyana also recently signed an agreement with Norway worth up to US$250 million over the next five years. Norway will provide financial support to Guyana in proportion to the country’s success in limiting emissions.