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GOOD NEWS: Yasuní Gets Approval from the Ecuadorian Government

Last September welcomed one of our beneficiaries, Movimiento Idún, and the mayor of the Orellana region of the Ecuadorian Amazon, Anita Rivas. We showed support for their campaign to keep oil underground in Yasuní, which will protect the biodiversity of one of the richest regions on earth. Today the Ecuadorian press reported good news for the campaign: President Rafael Correa has accepted the proposal.

The President confirmed that it is one of the government's most important projects. Yesterday, Rafael Correa approved the final proposal for the Yasuní-ITT Initiative. Its purpose is to prevent the release of 410 million tons of carbon dioxide (CO2). To meet this goal, Ecuador will not drill for the estimated 850 million barrels of crude oil reserves in the ITT Block, located in the eastern section of Yasuní.

According to Roque Sevilla, president of the council that is driving this initiative, the President maintained a positive tone during the two-hour, meeting held behind closed doors. "He asked appropriate questions and approved the proposal pending results from management," he stated. Ecuador's strategy is to offer Yasuní Guarantee Certificates, a type of guarantee that the crude oil will stay underground indefinitely.

Because of their purpose (to avoid CO2 emissions), they will not be part of the Kyoto Protocol (sale of carbon credits at $17 per metric ton of CO2). Nevertheless, they will be sold in a similar way, and at the current price, the country would bring in $697 million annually. Those resources will be managed under a trusteeship, with a focus on investing in hydroelectric projects. President Correa will announce his support on his radio network next Saturday, and a commission will travel to England and Germany on June 17 to present the proposal.

In related news:

9/29/08 - Yasuní Green Gold lands in Barcelona
A dream comes true for Movimiento Idún, a beneficiary of They are traveling with officials from the Municipality of Francisco Orellana, Ecuador to alert people to the damaging effects of drilling for oil in the Ecuadorian jungle. They arrive in Barcelona on October 14 to request an end to oil drilling as the main operation in the region and to present a beautiful book of photographs called "Yasuní Oro Verde."

16/10/2008 - Yasuní Oro Verde, advertising in press

Here you can find links to articles and interviews about the "Yasuní Oro Verde" Tour in Barcelona.

08/04/2008 - The Internet to the Rescue of Yasuni, in Ecuador
A Spanish NGO, and partner, has decided to offer, via photographs and other medium available on the Internet and the Ab·core platform, to raise awareness about oil and timber interest on the Amazon region in Ecuador.

More about: ngo , internet , idun , , yasuní , biodiversity
Translation by Kelly Wester
on 02/06/2009
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