Groundbreaking deal to save million acres of Guyana rainforest

A deal has been agreed for the first time that will place a financial value on rainforests, paying for their upkeep as "utilities" providing vital services such as rainfall generation, carbon storage and climate regulation.

The Independent reported that the deal will secure the future of one million acres of pristine rainforest in Guyana.

Hylton Murray-Philipson, director of the London-based financiers Canopy Capital, who sealed the deal with the Iwokrama rainforest, was quoted as saying: "How can it be that Google’s services are worth billions but those from all the world’s rainforests amount to nothing?"

Guyana’s President Bharrat Jagdeo, a former economist, has appealed for state and private sector help for the country to avoid succumbing
to the rampant deforestation.

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