A pioneering conservation plan in the Amazon rain forest has run aground. The plan envisaged Ecuador’s foregoing drilling for oil in its Yasuni National Park in return for the world pitching in financially to make this less painful for the country economically.
A poor country whose economy hinges on oil exports, Ecuador was willing to leave untapped an estimated 850 million barrels of Amazon crude in the Ishpingo, Tambococha and Tiputini oil fields (the ITT Block) in the national park. In return, it called on the international community to raise US$ 3.6 billion – roughly half the revenues the country would have earned from extracting the oil - over 13 years to enable it to tide over the economic loss it would incur. Sadly, the international community did not respond to the initiative, forcing the Ecuador government to call off the plan. Since the plan was announced in 2007, the fund attracted just $13 million, making it economically unfeasible for the Ecuador government to persist with this plan.
Ecuador's president Rafael Correa has come under tremendous criticism from environment activists worldwide for revoking the plan. Indeed, the decision to begin oil drilling in an area that is among the world’s most diverse in plant species – one hectare in Yasuni is said to contain more tree species than those that are indigenous to all of North America – and animal life, will be catastrophic in its impact. But Correa was left with no choice as the international community was rather cold in its support to the plan.
A revolutionary initiative that had the potential to reduce pollution, conserve the environment and fight climate change has been killed in the womb. The onus for this must be borne by the world’s rich as they could have easily raised the required funds. They are, after all, the worst polluters. Yet they have been reluctant to do anything substantial to address the pollution issue. Their refusal to share clean technology and their stingy response to Ecuador’s conservation plan are illustrative. Ecuador’s cancelation of the conservation plan is a setback not for the Yasuni Park alone; this is a loss for the world.
Contributing towards the fund would have been not an act of charity towards Ecuador but a move towards enhancing our self-interest. Sadly, the international community was too small-minded and short-sighted to support Ecuador’s plan more substantially.