Informations sur le nombre total de droits de vote et d'actions
INFORMATION RÉGLEMENTÉE
Informations sur le nombre total de droits de vote et d'actions
Mont–Saint–Guibert (Belgique), le 27 novembre 2024, 22:30h CET / 16:30h ET – Conformément à l'article 15 de la loi du 2 mai 2007 relative à la publicité des participations importantes, Nyxoah SA (Euronext Brussels and Nasdaq: NYXH) publie les informations ci–dessous suite à l'émission de nouvelles actions.
- Capital: EUR 6.429.682,56
- Nombre total de titres avec droits de vote: 37.427.265 (tous des actions ordinaires)
- Nombre total de droits de vote (= dénominateur): 37.427.265 (tous liés aux actions ordinaires)
- Nombre de droits de souscrire à des titres avec droits de vote non encore émis: 2.296.194 (tous des droits de souscription octroyés; ce nombre exclut 346.431 droits de souscription émis mais pas encore octroyés)
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Contact:
Nyxoah
John Landry, CFO
IR@nyxoah.com
GLOBENEWSWIRE (Distribution ID 1001025557)
Information on the total number of voting rights and shares
REGULATED INFORMATION
Information on the total number of voting rights and shares
Mont–Saint–Guibert (Belgium), November 27, 2024, 10:30 pm CET / 4:30 pm ET – In accordance with article 15 of the Law of 2 May 2007 on the disclosure of large shareholdings, Nyxoah SA (Euronext Brussels and Nasdaq: NYXH) publishes the below information following the issue of new shares.
- Share capital: EUR 6,429,682.56
- Total number of securities carrying voting rights: 37,427,265 (all ordinary shares)
- Total number of voting rights (= denominator): 37,427,265 (all relating to ordinary shares)
- Number of rights to subscribe to securities carrying voting rights not yet issued: 2,296,194 (all granted subscription rights; this number excludes 346,431 subscription rights that were issued but not yet granted)
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Contact:
Nyxoah
John Landry, CFO
IR@nyxoah.com
Attachment
GLOBENEWSWIRE (Distribution ID 1001025557)
Mavenir’s Network Intelligence as a Service (NIaaS) Wins the Advancing Artificial Intelligence Award at the 2024 Glotels
RICHARDSON, Texas, Nov. 27, 2024 (GLOBE NEWSWIRE) — Mavenir, the cloud–native network infrastructure provider building the future of networks, has been recognised as a leader in AI, scooping the Advancing Artificial Intelligence Global Telecoms (Glotel) Award for its Network Intelligence as a Service (NIaaS). Applying state–of–art AI/ML to telco operations, Mavenir’s NIaaS elevates problem–solving and decision–making capabilities to improve the user experience.
Enhancing resource efficiency and reducing cost, NIaaS is an integral part of Mavenir’s market–leading portfolio of solutions enabling autonomous 5G networks. As network operations become increasingly complex, the capability of autonomous networks has become crucial. Until 4G, telco service provision primarily catered to services accessed by people, with operational processes built around human behaviour. For 5G and beyond, networks are required to deliver services to a fast–growing array of non–human devices with varying requirements in terms of bandwidth, latency, and usage patterns.
Telco operations to support such a heterogeneous set of services are set to grow progressively more complex, requiring autonomous networks. Mavenir’s solutions for autonomous network leverage leading open–source frameworks – spanning K8s/container cloud, GitOps–based cloud–native automation, and state–of–the–art AI/ML algorithms – and optimize them for the unique needs of communication service providers (CSPs). The result is the delivery of cutting–edge innovation at lightning speed and with unprecedented agility.
In commercial service, Mavenir’s NIaaS has elevated problem–solving and decision–making capabilities of operational personnel, enabling them to improve network operations productivity, enforce service level agreements, enhance end–user experience, and utilize network resources more efficiently. The NIaaS provides a visualization layer displaying the inferencing of output of the ML model in a user–friendly manner, enabling telco operations personnel who do not have a background in data science to easily understand the output of the ML models. NIaaS creates a digital twin of the operational network, using generative AI models, to derisk closed–loop operations. The digital twin serves as a live test tool to evaluate optimization actions suggested by NIaaS, before implementing them on the live network.
“Our commitment to building the best AI solutions for telco operations is second to none,” said Brandon Larson, SVP and GM of Mavenir’s Cloud, AI & IMS Business Strategy. “The future of the telecom industry lies with autonomous networks, and CSPs need to rapidly adopt AI in their operations to remain relevant. Mavenir’s NIaaS applies state–of–art AI in telecom operations to build the future of networks – today, enabling CSPs to offer advanced services and improved user experience to their consumers at a lower cost and realize enhanced operational efficiency.”
The 12th annual Glotel Awards are the Global Telecoms Awards, organised by Telecoms.com. Full list of winners can be viewed here: 2024 Winners | Global Telecoms Awards
About Mavenir
Mavenir is building the future of networks today with cloud–native, AI–enabled solutions which are green by design, empowering operators to realize the benefits of 5G and achieve intelligent, automated, programmable networks. As the pioneer of Open RAN and a proven industry disruptor, Mavenir’s award–winning solutions are delivering automation and monetization across mobile networks globally, accelerating software network transformation for 300+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. For more information, please visit www.mavenir.com
Mavenir PR Contacts:
Emmanuela Spiteri
PR@mavenir.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e088278e–bd35–49ab–94b8–472df81683dc
GLOBENEWSWIRE (Distribution ID 9290867)
Bangladesh Bans Polythene Bags Again, Sparking Hopes for the Eco-Friendly ‘Sonali Bag’
By Masum Billah
DHAKA, Nov 27 2024 – After Bangladesh’s interim government banned polyethene bags, a new sense of hope has emerged for the Sonali bag—a jute-based, eco-friendly alternative developed in 2017 by Bangladeshi scientist Dr. Mubarak Ahmed Khan. Sonali bag, or the golden bag, is named after the golden fiber of jute from which it is made.
Despite its promises, the project has struggled to make significant progress due to a lack of funding. However, following the announcement of the polythene bag ban, Mubarak is now facing pressure to supply his Sonali bag to a market eager for sustainable alternatives.
“Since the government banned polythene bags, we have faced immense pressure of orders that we cannot meet—people are coming in with requests at an overwhelming rate,” Mubarak Ahmed Khan told the IPS.
The latest ban, which came into effect on October 1 for superstores and traditional markets on November 1, isn’t the first time Bangladesh has imposed a ban on polythene bags.
In 2002, the country became the first in the world to outlaw them, as plastic waste was severely clogging city drainage systems and exacerbating its waterlogging crisis, with Dhaka alone consuming an estimated 410 million polybags each month. But the ban gradually lost effectiveness over the years, largely due to a lack of affordable and practical alternatives and inadequate enforcement from regulatory authorities.
Polyethene bags, although cheaper, are harmful to the environment as they are non-biodegradable and their decomposition takes at least 400 years. Sonali Bag as an alternative, on the other hand, is regarded as a game-changer because it is biodegradable, capable of decomposing in three months.
The ban comes as the UN Plastics Treaty Negotiations are underway in Busan, South Korea. The UN Environment Programme estimates that around the world, one million plastic bottles are purchased every minute.
“In total, half of all plastic produced is designed for single-use purposes—used just once and then thrown away.”
Without an agreement, the OECD estimates that annual plastic production, use, and waste are predicted to increase by 70 percent in 2040 compared to 2020. This on a planet already choking on plastic waste.
The talks have in the past stalled over a disagreement over how to manage waste, with some countries favouring introducing a cap on plastic production and others supporting circularity with use, reuse, and recycling as the main objectives.
The plastics treaty talks will run from 25 November 2024 to 1 December 2024.
However, despite its environmental benefits and higher demands, in Bangladesh the Sonali Bag project still remains within the pilot phase.
A late start for funding crisis
After Mubarak’s invention made headlines, the country’s state-owned Bangladesh Jute Mills Corporation launched a pilot project, setting up a jute-polymer unit at the Latif Bawani Jute Mill to produce Sonali Bag.
Mubarak said they have been asking for government funds, as the project has been operating under the Ministry of Textiles and Jute. However, the basic funding that kept the pilot project running expired last December, and the previous government—which was toppled in August in a mass uprising—had discontinued the project.
“There had been assurances that we might receive Tk100 crore (about USD 8 million) in funding from the government by July. But then came political unrest and a change in government,” Mubarak said.
After the new government took charge, they renewed the pledges to fund the Sonali Bag project.
“The interim government told us that we will get the money in January. If that happens, we will be able to produce five tons of bags per day,” Mubarak said. “Five tons may not be a lot, but it will give us the chance to demonstrate our work to private investors, boosting their confidence to engage with us.”
According to Mubarak, one kilogram of Sonali bags amounts to around 100 pieces of small bags. Based on this estimate, five tons could produce around 15 million bags per month.
Bangladesh’s current adviser to the Ministry of Textiles and Jute, Md. Sakhawat Hossain, told IPS that they are seriously considering funding the Sonali Bag project this January, although he acknowledged that his ministry is currently facing a funding crisis.
“The work will begin in full scale after the fund is provided,” Sakhawat Hossain said. When asked if Mubarak would receive the funds by January, he replied, “We hope so.”
A ban without adequate alternatives at hand
Mubarak Ahmed Khan regards the government’s decision to ban polythene bags as a “praiseworthy” initiative. However, he emphasized that sustainable and affordable alternatives to the polythene bags should come soon.
Mubarak is not alone in his concerns. Sharif Jamil, founder of Waterkeepers Bangladesh, an organization dedicated to protecting water bodies, shares skepticism about the effectiveness of the ban this time, citing the lack of sustainable alternatives in the market.
“The announcement of this ban is an important and timely step. However, it must also be noted that our previous ban was not enforced. Without addressing the underlying issues that led to nonenforcement of the previous ban, the new polythene ban will not resolve the existing problems. It is crucial to tackle the challenges that allowed polythene to remain in the market,” Sharif Jamil told IPS.
“If you don’t provide people with an alternative and simply remove polythene from the markets, the ban won’t be effective,” he added.
Sharif noted that the existing alternatives in the market are not affordable, with some selling alternative jute bags at Tk25 in supermarkets, while polythene bags are often offered at a price that is essentially free.
“Alternatives need to be more affordable and accessible to the public,” he said.
Mubarak stated that his Sonali bag currently costs Tk10 per piece, but he anticipates lowering the price with increased production and demand.
The pursuit of competition in sustainable alternatives
Sharif Jamil, however, wants competition in the sustainable alternatives market.
“It is not only about incentivizing Dr. Mubarak’s project,” Sharif said.
This technology has to be incentivized and recognized, but the government also has to ensure two other things, he said.
“If the government can make it accessible to people at a lower price, it will reach them. Secondly, if the alternative remains solely with Mubarak, it will create a monopoly again,” he said.
It must undergo competition, he recommended. Bangladesh has a competition commission to ensure that other existing sustainable green solutions on the market are also incentivized and recognized.
“Besides facilitating and upgrading Mubarak’s project, the government should ensure fair competition so that people can access it at a lower price,” he added.
For the sake of environment
Adviser Shakhawat Hossain said that they are optimistic about the success of Sonali Bag.
“Already the ambassadors of various countries are meeting me about this. Some buying houses too have been created for this. It seems it will be a sustainable development,” he said.
Mubarak said that if they get the funding soon, Sonali Bag will have a market not only in Bangladesh but all over the world.
He said the private investors should come forward not just because the government has banned polythene bags, but out of a moral obligation to address the negative impact these bags have on the environment.
“With this, I believe we can create a polythene-free environment,” Mubarak said, acknowledging, “It is not easy to introduce this to the market solely because it is a new product. We are up against an USD 3.5 trillion single-use plastic market.”
IPS UN Bureau Report
U.S.-Backed Israel-Hezbollah Ceasefire Comes Into Effect
By Naureen Hossain
UNITED NATIONS, Nov 27 2024 – A ceasefire between Israel and Hezbollah comes into effect early on Wednesday morning (November 27). It is hoped that this will mark an end to a 13-month-long period of hostilities between the two parties in Lebanon.
News of the ceasefire came from United States President Joe Biden, who made a televised announcement on Tuesday afternoon that an agreement had been reached between the Israeli and Lebanese governments. Biden remarked that the ceasefire was expected to be a “permanent cessation of hostilities” from both sides of the conflict.
“Civilians on both sides will soon be able to safely return to their communities and begin to rebuild their homes, their schools, their farms, their businesses, and their very lives,” said Biden. “We are determined that this conflict will not just be another cycle of violence.”
Under the ceasefire agreements, which will initially last for sixty days, fighting at the Israel-Lebanon border will come to an end, and Israeli troops are expected to gradually withdraw from south Lebanon. Hezbollah is expected to pull back north of the Litani river, ending their presence in southern Lebanon.
The implementation of this ceasefire will be overseen by the United States, France, and the United Nations through the United Nations Interim Force in Lebanon (UNIFIL). The UN has made repeated calls for the full implementation of resolution 1701 (2006), which calls for an end to the hostilities between Israel and Hezbollah and the need for Lebanon to exert government control.
Lebanese Prime Minister Najib Mikati welcomed the ceasefire deal, noting that it would be an “essential step towards restoring calm and stability in Lebanon,” while also warning that Israel must commit to the agreement and abide by UN Security Council Resolution 1701 (2006). Israeli Prime Minister Benjamin Netanyahu shared in a video statement shortly before the ceasefire deal was reached that Israel would retaliate if Hezbollah made any moves that violated the terms of the ceasefire.
Senior leaders in the UN, including Secretary-General António Guterres, welcomed the ceasefire announcement. In an official statement from his office, Guterres urges the parties to “fully respect and swiftly implement all of their commitments made under this agreement.”
UN Special Coordinator for Lebanon, Jeanine Hennis-Plasschaert, also released a statement where she welcomed the ceasefire agreement. She went on to remark that this would signify the start of a critical process, “anchored in the full implementation” of the Security Council resolution 1701 (2006), to go forward in restoring the safety and security of civilians on both sides of the Blue Line.
“Considerable work lies ahead to ensure that the agreement endures. Nothing less than the full and unwavering commitment of both parties is required,” Hennis-Plasschaert said. “It is clear that the status quo of implementing only select provisions of Resolution 1701 (2006) while paying lip service to others will not suffice. Neither side can afford another period of disingenuous implementation under the guise of ostensible calm.”
The ceasefire agreement comes after a year-long period of escalating tensions and fighting, which began shortly after the October 7 Hamas terror attacks in Israel. Hostilities ramped up in September of this year when the Israeli Defense Force (IDF) made repeated attacks on southern Lebanon. The fallout of the humanitarian situation has seen the displacement of over 900,000 civilians since October 2023, according to the International Organization for Migration (IOM). Over 3823 civilian casualties have been confirmed within Lebanon and Israel. Of those casualties, at least 1356 civilians have been killed since October 8, 2023.
UNICEF Executive Director Catherine Russell said that the work must begin to sustain this peace and that children and families, including those displaced and in host communities, need to be ensured a safe return. Humanitarian organizations need to be “granted safe, timely, and unimpeded access to deliver lifesaving aid and services to all affected areas.”
“We call on all parties to uphold their commitments, respect international law, and work with the international community to sustain peace and ensure a brighter future for children,” said Russell. “Children deserve stability, hope, and a chance to rebuild their futures. UNICEF will continue to stand with them every step of the way.”
Even as a ceasefire seemed imminent, on Tuesday Israeli warplanes bombarded Beirut’s southern neighborhoods. These attacks have resulted in the deaths of 24 civilians. Al Jazeera reported that even amidst Biden’s announcement, the war in Lebanon was “still very much going.”
In recent months, UNIFIL forces have been caught in the crossfires and have faced challenges in fulfilling their mandate. Most recently, four Italian peacekeepers were injured when rockets hit the headquarters in Shama, though they did not sustain life-threatening injuries.
On this incident, UNIFIL stated: “The deliberate or accidental targeting of peacekeepers serving in south Lebanon must cease immediately to ensure their safety and uphold international law.” Earlier this month, UNIFIL released a statement detailing the actions the IDF took against the peacekeepers, including the “deliberate and direct destruction” of UNIFIL property.
During his address on Tuesday, Biden acknowledged Gaza and the lack of a ceasefire for the ongoing war. “Just as the people of Lebanon deserve a future of security and prosperity, so do the people of Gaza,” Biden said. “They too deserve an end to the fighting and the displacement. The people of Gaza have been through hell. Their world is absolutely shattered. Far too many civilians in Gaza have suffered far too much.”
Biden pledged that the United States would make another push to achieve a ceasefire in Gaza, along with Türkiye, Egypt, Qatar, and Israel; one that would see an end to the violence and the release of all hostages. The United States has vetoed Security Council resolutions that would have called for a ceasefire resolution on four separate occasions, most recently this November.
IPS UN Bureau Report
Blockages of Aid in Gaza Threatens Survival for 2.2 Million
By Oritro Karim
UNITED NATIONS, Nov 27 2024 – Following the International Criminal Court’s (ICC) indictment of Israeli Prime Minister Benjamin Netanyahu for deliberate war crimes committed on the people of Gaza, there has been a considerable surge in hostilities, mostly concentrated in the enclave’s northern regions. The humanitarian crisis is expected to deteriorate as the availability of essential resources, such as water, food, fuel, and electricity has significantly dwindled over the past few weeks due to sustained blockages by Israeli authorities. Additionally, levels of civilian casualties and displacements have reached new peaks.
Despite repeated claims from the Israeli Defense Forces (IDF) that the airstrikes are meant to target Hamas members and infrastructure only, there have been frequent airstrikes on residential areas hosting displaced Gazan civilians. According to Gaza’s Health Ministry, there have been over 44,000 civilian casualties in the past 13 months of this conflict. Hopeless, Starving, and Besieged, a report by the Human Rights Watch, estimates that roughly 1.9 million Gazans have been displaced.
On November 21, a series of overnight strikes ravaged a residential neighborhood in Beit Lahiya, causing significant damage to civilian infrastructure. Gaza’s Health Ministry has confirmed that there have been at least 66 civilian casualties from this attack. Many are reportedly still buried under rubble. The victims were rushed to the nearby Kamal Adwan Hospital, which has been severely strained due to the influx of patients and dwindling resources.
The director of the hospital, Hussam Abu Safia, informed reporters that the majority of the casualties are women and children. Abu Safia added that hospital staff rushed to the scene to retrieve bodies from underneath rubble, observing that many bodies hung from the walls and ceilings of the destroyed settlement.
“A very large number of casualties has arrived, and there are still many bodies hanging on the walls, ceilings. We are already operating with the bare minimum resources, that is why most of our staff are now busy rescuing the injured due to the lack of ambulances and resources. The situation is honestly very dire. We cannot cope with this massive number of injuries and casualties,” said Abu Safia.
Health officials have warned that inadequate reserves of fuel are responsible for an imminent failure of Gaza’s healthcare system. Margaret Harris, a spokesperson for the World Health Organization (WHO) has expressed specific concern for the Kamal Adwan Hospital due to the rising intensity of the airstrikes and the wide scale of needs.
Marwan al-Hams, director of Gaza’s field hospitals, informed reporters on November 22 that “all hospitals in Gaza will stop working or reduce their services within 48 hours due to the occupation’s (Israel’s) obstruction of fuel entry.”
The Humanitarian Coordinator for the Occupied Palestinian Territory, Muhannad Hadi, warned on November 21 that continued hostilities threaten to bring humanitarian operations in Gaza to a “standstill.” Essential resources for displacement shelters- such as food, water, and medical supplies- have been nearly completely depleted.
According to Hadi, the IDF has banned all commercial imports for over six weeks, deepening the widespread levels of hunger, disease, and suffering, particularly in northern Gaza. Bakeries, which have acted as lifelines for millions of Gazans throughout the crisis, have been closing “one after the other” due to a lack of flour to bake bread and fuel to power generators. Approximately 2 million people are predicted to be affected.
OCHA reports that as of November 26, 41 attempts were made by the UN to reach Palestinians in the besieged areas of Northern Gaza with humanitarian aid, yet none of them were facilitated by Israeli authorities. 37 missions were rejected by the authorities, and the four that were approved were only partially successful as they faced challenges on the ground.
On November 22, the WFP released the Global Outlook 2025, a report that examines issues in global food security. According to figures in the report, Gaza is critically dependent on humanitarian aid for survival, with approximately 91 percent of the population facing acute food insecurity. 16 percent are living under catastrophic conditions.
IPS UN Bureau Report
Now it’s Officially the Israeli-American Genocide in Gaza
By James E. Jennings
ATLANTA, USA, Nov 27 2024 – As of last week, in the wake of the Nov. 21 issuance by the International Criminal Court (ICC) of arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former IDF Defense chief Yoav Gallant, all eyes turned to Washington to see the what the response of Israel’s main backer would be.
The charges were for “Crimes Against Humanity” and “War Crimes” for using starvation as a method of warfare in Gaza, something is explicitly forbidden in international law. A HAMAS operative, Muhammad Deif, who may already be dead, was also charged. One would think that the US should find it easy to agree. But what was the message from the Biden White House?
Press spokesperson Karine Jean-Pierre said that the United States of America “Rejects the ICC ruling,” as if the International Criminal Court were just an off-beat punk yelling his head off in Lafayette Park just across from the presidential residence. But the prestigious court in the Hague has no option. It is bound to rule according to the law. It’s actions are neither political nor enacted on a whim.
The international law that created the treaty was endorsed by a host of national governments around the world—except for a few, Israel and the United States being the most prominent.
The US is not a State Party (signatory) to the ICC, even though 124 countries have signed the Rome Statute that created the ICC in 2002. Presidents Clinton and Obama tried to get ratification from the US Senate but failed. George W. Bush and the Neo-Cons flatly rejected the idea of endorsing the statute, not wanting any restrictions on their disastrous plan to attack Iraq.
Just the day before at the United Nations, the Security Council voted overwhelmingly 14-1 to demand a cease-fire in Gaza. But the US, by a single vote –because it has veto power under the rules set up in the wake of WW II—blocked the resolution.
The argument that a cease fire would help bring the hostages home, not hinder their release, was urged by the council but fell on deaf ears.
In a shameful action that will be long remembered throughout the world, the US representative, Deputy Ambassador Robert Wood, raised his hand to block the resolution. These two actions in the same week—flat out rejection of the ICC warrants and blocking a Security Council cease fire resolution intended to relieve massive human suffering, when taken together, mean not only that the United States is fully on board with the endless slaughter of civilians in Gaza under continuous Israeli bombing, but it now supports starving women and children too.
This is a stain that will not go away. Protestors in the streets and on university campuses have long been chanting, “Genocide Joe has got to go!” How out of touch is the near-senile President Biden? How corrupt, misguided, and inhumane do you have to be to make that decision, condemning the United States to be forever labeled as contributing to war crimes?
It’s true that Washington has long supplied arms to Israel, including during this conflict, but to support continued starvation and bombing of civilians as a matter of policy is much worse—either deliberately evil or insanity. No fancy negotiating tricks are allowed when innocent lives are at stake.
And where does the recent Democratic nominee for President, Vice President Kamala Harris, stand on all this? Does she have a voice within the Administration? She pledged repeatedly if elected to increase, not decrease, humanitarian aid to Gaza.
What’s wrong with advocating a cease fire after 13 months of massive, one-sided bloodletting that has killed and wounded nearly 150,000 people among the unfortunate citizens of Gaza?
Let’s define terms: A war is when both sides shoot at each other. A Turkey Shoot is different—the Turkey doesn’t have a chance, and sharpshooters just keep shooting to see who has the best aim. A slaughterhouse is when only one side has all the power and just keeps killing on a massive scale.
Israel’s troops have guns and bombs supplied by the United States, Germany, and the UK, and continues to shoot and bomb people in Gaza long after the other side has ceased firing. If the operation is a manhunt, call it a manhunt. If a reprisal, call it a reprisal. If ethnic cleansing, call it that. If the term “Warsaw Ghetto” is fitting, call it that. But don’t call it a righteous battle if the atrocities keep piling up on just one side with no sign of stopping.
Does anybody know how long it has been since HAMAS has fired rockets, or even machine guns at Israeli troops? You would think that if that were the case the slick Israeli lie machine would trumpet that information. So why not cease firing today, not tomorrow?
Why doesn’t the esteemed American President, “Genocide Joe,” just decide for once to do the right thing?
James E. Jennings, PhD is President of Conscience International, an aid organization that has worked in Gaza over many years.
IPS UN Bureau
Guyana’s Dream to Be a Green Oil Producer
By Rio Namegaya
SAN DIEGO, USA, Nov 27 2024 – Long before the transformative discovery of its offshore oil in 2015, Guyana had made a strong pledge to decarbonization and climate action as set forth in its Low Carbon Development Strategy (LCDS) 2030. The development of its oil industry has led to remarkable economic growth in Guyana, including a 62.3% growth rate in 2022.
But balancing its oil-driven economic growth with its longstanding commitment to climate action and the promise of sustainability — the milestones and objectives of the LCDS policy framework — will be essential. Put simply, how can its idealistic and ambitious pathway become a reality?
The country’s offshore oil deposits have reached 11 billion barrels and production is set to top 1.2 million barrels per day (bpd) by 2027, making this small Latin American country one of the fastest-growing oil producers in the world
To begin, it is essential to understand the truly transformative nature of the country’s oil and gas sector development. The country’s offshore oil deposits have reached 11 billion barrels and production is set to top 1.2 million barrels per day (bpd) by 2027, making this small Latin American country one of the fastest-growing oil producers in the world.
The expected boost in production is estimated to bring in revenue of 7.5 billion USD to the Government of Guyana by 2040. This is motivation strong enough for a small developing country like Guyana to balance “the goose that lays the golden egg” with its promise of Paris Agreement targets and a global status as a leading advocate for decarbonization among developing countries that was earned before its offshore oil was found.
For Guyana, there is a clear and obvious key to achieving such a delicate balance: the nation’s forest ecosystems. Guyana is a country with the second-highest percentage of global forest cover that can annually store 19.5 billion tons of carbon dioxide (almost 40% of global emissions) and capture 154 million tons per year from the atmosphere.
This has afforded the coastal nation to stake a clear claim as one of the globe’s few carbon-negative jurisdictions. Furthermore, it has allowed the country to succeed in monetizing its conservation efforts through Architecture for REDD+ Transaction: the REDD+ Environmental Excellence Standard (“ART TREES”), a global climate initiative focused on forestry conservation, including managing, monitoring, and reporting carbon credits.
With the carbon credit certification from ART TREES, Guyana issued carbon credits for the first time as a country. Successive efforts allowed Guyana to secure a carbon-credit transaction in 2022 with Hess Corporation, a US gas and oil producer.
The agreement, that spans the years 2016-2030, includes payment to Guyana totaling at least 750 million USD to compensate for emissions in the oil production process.
This agreement also proves Guyana’s commitment to balancing oil production and sustainability by way of protecting its tropical forests, as the carbon credits payments are conditioned upon the requirement that 99% or more of Guyana’s forests remain intact.
Another notable sign of Guyana’s long-term readiness to strike the balance for its ambitious energy transition plan is Community-produced Village Sustainability Plans (VSPs).
As stipulated in the LCDS 2030, 15% of the revenue from the carbon market is used for Indigenous peoples and local communities (IPLCs). It should be noted that this is an important distinction for Guyana’s efforts when compared to other countries in the region.
Moreover, the VSP’s are part of Guyana’s sense of urgency to mitigate and adapt to the risks and impacts of climate change as a Latin American country particularly vulnerable to the most pernicious impacts from climate change.
The country has repeatedly underscored how it views its role as one of the most crucial countries in biodiversity conservation while shaping policy and governance lessons as to how to invest the oil revenue in possible expansion and conservation of forests, coastal, land, and ocean biodiversity, and heightening resilience against climate change impacts.
Successful development and implementation of these plans could both save lives in the region and further advance Guyana’s economic development while affording crucial lessons learned globally.
Further, Guyana also uses revenue from the carbon market to invest in education and other public services, agriculture, manufacturing, and IT industries.
These measures are important to stave off and mitigate the impacts of the resource curse. The early results are positive as the non-oil economy grew by 12.6% in 2024, which points to an important start and reassuring evidence that Guyana is working to diversify its economy.
In other words, Guyana is already preparing an antidote to “Dutch Disease,” a phenomenon where accelerated growth in one sector harms the economy in another sector as seen in the Netherlands, where discovery of oil and gas and rapid development and income generation for the nation resulted in a decline in manufacturing industry during the 1970s.
Finally, Guyana is aware that its continued commitment to environmental sustainability improves the long-term viability of both oil production and its domestic economy.
Continued development of an efficient level of production in its burgeoning offshore oil industry combined with important carbon capture technologies is positioning the nation’s output as so-called “low-carbon” barrels.
As oil demand declines over the coming years, it also seems apparent that changes in international regulations and governance would impact high-carbon producers first.
Nothing would promise longer prospects as an oil producer for Guyana than as a sustainable low-carbon oil producer. Such attributes can ensure Guyanese oil competitive even after achieving global net-zero carbon emissions despite being a latecomer to the global oil market.
An optimist might even add that this would pressure other major existing producers to lower their carbon emissions if considering Guyana’s collaboration with Norway—another oil producer aiming to lower net carbon emissions in recent years.
Guyana has shown its strong and confident commitment to sustainability in oil production and social and economic development through a commitment to policy and legislation at the domestic level.
The nation’s ambitiousness of harnessing the economic opportunity presented from the discovery of its massive offshore oil wealth has not subsumed the longstanding and necessary commitment to biodiversity and climate action.
Indeed, the country has a clear path forward to employ its oil and gas resources for economic and social sustainability by investing long-term in sustainability across society, environment, and economy.
Rio Namegaya is a graduate student at the University of California San Diego’s School of Global Policy and Strategy (GPS)