Private sector looking to build forest conservation fund – GCCI President
Guyana’s private sector is planning to establish a fund that enables businesses of all sizes to contribute directly to forest conservation, according to President of the Georgetown Chamber of Commerce and Industry (GCCI) Kathy Smith.
Smith stated that business support organisations, including the GCCI and the Private Sector Commission (PSC), recognise that protecting forests requires companies to give without expecting financial returns. Further details on the fund are expected in the coming weeks.
Smith made the disclosure on Wednesday during the Starting Point podcast ahead of the Second Global Biodiversity Alliance Conference and Financing Forum, scheduled for October 30–31 at the Arthur Chung Conference Centre (ACCC).
“In maintaining our forests, we also have to ensure we come out of pocket. It cannot just be reinvestment with returns. We have to give with no returns,” Smith said.
The GCCI president explained that the fund would encourage small, affordable contributions to help avoid donor fatigue.
Tour operators offering trips to Kaieteur Falls and other destinations, for example, could contribute a dollar per trip, while companies selling bottled water and juice could set aside four or five cents per bottle sold.
The model is meant to include micro, small and medium-sized enterprises (MSMEs), which Smith said are eager to be part of the green economy. The fund would then be available to support government initiatives when called upon.
“If we can get thousands of businesses to contribute, the private sector can be doing its corporate social responsibility,” she said.
Smith also urged commercial banks and other financial institutions to begin allocating credit for MSMEs looking to go green. She noted that large businesses have already shifted to solar energy and better waste management, and that smaller firms need financing to do the same.
Reflecting on the inaugural Global Biodiversity Alliance Summit held in July 2025, Smith said the discussions changed how the business community views the country’s natural assets.
She highlighted ecotourism packages built around indigenous communities, hydroponic farming, solar energy, green bonds and environmental consulting as areas where Guyanese entrepreneurs can invest.
She noted that the private sector could also position itself as a middleman in the carbon credit market, purchasing credits from the government and marketing them to international buyers.
Smith said biodiversity creates opportunity for Guyanese beyond the oil and gas sector, particularly for indigenous peoples whose forest knowledge is unmatched. She called on business leaders to take part in this week’s conference.
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