Prime Minister Hon. James Marape recently highlighted Papua New Guinea’s allure as an investment destination, emphasising its unique status as “carbon-negative, at the 17th Papua New Guinea Resources and Energy Conference held in Sydney, Australia.
This declaration positions Papua New Guinea as a frontrunner in environmentally conscious investment opportunities and reaffirms the nation’s commitment to sustainable development in the hydrocarbon sector.
Prime Minister Marape emphasised the significance of this distinction, stating, “The good news that Papua New Guinea offers to every investor is that we are not carbon-neutral but we are carbon-negative.”
The term “carbon-negative” denotes that Papua New Guinea emits less than zero carbon dioxide and carbon dioxide equivalent (CO2e) greenhouse gases, positioning it as a leader in environmentally sustainable practices.
Addressing key players in the hydrocarbon sector, Prime Minister Marape asserted, “Papua New Guinea will not slow down in attracting investments in the hydrocarbon space. We will still be an oil-producing nation, we will still be a gas-producing nation.”
He extended a specific appeal to major industry players, Total and ExxonMobil, urging them to bring their carbon footprint offsets into Papua New Guinea’s green economy.
Prime Minister Marape underscored the country’s vast natural resources, stating, “I have 462,840 sq km of land, of which 70 per cent is forests. That’s the green economy. If I throw in the blue economy, my entire 5 million sq km of oceans, that adds even more value. When you operate in Papua New Guinea, you are operating in a carbon-negative country.”
