Suriname faces a striking paradox: this South American nation boasts the world’s highest forest coverage and maintains “carbon-negative” status by absorbing more greenhouse gases than it emits. Yet by 2028, it will begin pumping nearly 250,000 barrels of oil daily from offshore platforms operated by French energy giant TotalEnergies.

The small rainforest nation, where 90% of land remains pristine Amazon jungle, recently emerged from a debt crisis that saw it default on sovereign bonds in 2020. The discovery of billions of barrels of offshore oil offered an economic lifeline. Unlike many resource-rich developing countries, Suriname negotiated aggressively through its state oil company, securing a 70% revenue share from TotalEnergies—far better terms than neighboring countries achieved.

Suriname’s leaders argue they’ve found a climate-conscious path forward: using oil revenues to fund green development, protect forests, and build renewable energy infrastructure while maintaining their carbon-negative status. The country plans to sell rainforest carbon credits alongside oil barrels, essentially offering both fuel and its environmental offset to global markets.

However, this strategy faces significant challenges. While Suriname’s extraction operations may remain relatively clean, burning the oil globally will produce over 30 million tons of CO2 annually—far exceeding what the nation’s forests can absorb. The newly elected government must also avoid the “resource curse” that has plagued other oil-rich nations, ensuring revenues fund sustainable development rather than corruption and economic dependence. Success could provide a model for climate-pragmatic development; failure risks undermining both Suriname’s environmental leadership and global climate goals.