Photo credit: colonos
At the Clinton Global Initiative this week, Ecuador pledged to forgo the development of the country's largest oil reserve in the Amazon basin's most diverse rainforest located below Yasuni National Park, also home to the Tagaeri-Taromenani indigenous peoples living in voluntary isolation
The nation will be essentially kissing an estimated $4.6 billion in oil revenues goodbye, making the commitment one of the most significant and ambitious measures proposed by a developing nation to tackle climate change.
Instead, in its bid to become the first sustainable economy in Latin America, Ecuador will be turning its focus on developing alternative energy projects, especially solar and geothermal, as well as the promotion of small-scale hydroelectric projects. Another objective of the proposal is to strengthen the service economy by supporting eco-tourism and community tourism. A plan that will penalize parties responsible for social and environmental damages in the Ecuadorian Amazon will also be snapped into place shortly. Well played, Ecuador. Well played.