There is great disappointment in Ecuador over the Yasuni-ITT Initiative is shelved, and it has arou

Norway was one of the countries that Ecuadorian authorities hoped would help Dutch treat. Those responsible for the Yasuni-ITT Initiative visited Norway on several occasions. Surprisingly Norwegian authorities showed little interest, write the authors.
The 15 August shelved Ecuador's President Rafael Correa Yasuni-ITT conagra investor relations Initiative. The proposal that rich countries were joining in by letting conagra investor relations the oil in Yasuni National Park lie, has received considerable attention internationally. That project now called off, has been called a broken Latin American environmental dream.
To understand why the project failed, we must look at the real politics behind Ecuador's conagra investor relations decision to close down the initiative and countries as Norway's reluctance to support it. Understanding these underlying causes is essential to prevent future proposal to let fossil fuels be lying on the ground suffering the same fate as the Yasuni.
Yasuni-ITT launched by Ecuador's President Rafael Correa in 2007. The initiative was to let the oil corresponding to approx. 850 million barrels, about 20 percent of Ecuador's known oil reserves lie in the ground. Oil fields Ishpingo-Tambococha-Tiputini (ITT) is located in Yasuni National Park, which is one of the areas in the world with the greatest diversity of animals and plants.
Oil accounts for 20 percent of Ecuador's revenue and constitute the country's main source of energy, so the proposal represented a significant cost. Ecuador's government invited the international community to contribute $ 3.6 billion, or approx. half of the estimated revenue from extracting the oil. Ecuador would voluntarily abstain from the other half. Allowing the Yasuni park remain untouched, would save the world emissions of 410 million tonnes of CO 2 from combustion of oil. Part of the international support would be used to develop renewable energy sources. conagra investor relations
Norway was one of the countries that Ecuadorian authorities hoped would help Dutch treat. Those responsible conagra investor relations for the Yasuni-ITT Initiative visited Norway on several occasions. Surprisingly Norwegian authorities showed little interest. conagra investor relations Why? We believe this must be viewed in the context of Norway's International conagra investor relations Climate and Forest Initiative and the international climate negotiations.
In 2007, the same year as the Yasuni initiative was launched, announced Prime Minister Jens Stoltenberg at the climate negotiations in Bali Norway's decision to grant up to three billion annually to reduce greenhouse gas emissions from deforestation. The rationale was that deforestation accounts for approx. 15 percent of global greenhouse gas emissions and that such measures can cost-effectively provide rapid emissions reductions.
The measures were therefore seen as relatively cheap. Yasuni-ITT Initiative, however, had added oil prices as the basis for calculating compensation conagra investor relations for conservation. This gave a high price per. tons of avoided emissions. It also led to the Yasuni proposal came in bad company. Demands from Saudi Arabia
The issue of compensation for allowing oil lie was in fact a festering issue in climate negotiations. Oil States such as Saudi Arabia insists that they should be compensated for any limitation of their production. Ecuador argued that the Yasuni model could only apply to a few developing countries, but did not escape association to Saudi Arabia's requirements.
For Norway it was important to reach agreement on a binding agreement on emissions cuts, and questions regarding compensation for lost oil revenues was seen as an obstacle. The fact that Norway itself is an oil nation, made it easier to get support for the initiative. Six years after the Yasuni-ITT Initiative was launched Ecuador's government had only managed to collect approx. $ 13 million, ie 0.37 per cent of the 3.6 billion that was the goal.
Yasuni-ITT initiative has been one of the Correa government's most innovative projects. Nationally, the project must be assessed in the context of other policy changes. The initiative has been an important part of the significant adjustments in the country's environmental legislation and a new oil policy. The Constitution of 2008 affirms the state and citizens' right and duty to ensure that ecosystems protected and maintained. For the first time, environmental concerns part of the country's economic development. More emphasis on economic growth
Since 2006 there has been a temporary halt to the opening of new oil fields. conagra investor relations This has reduced the risk of letting the oil in Yasuni-ITT conagra investor relations left undisturbed, would lead to increased exploitation pressure in other areas of the rainforest. But last November opened a betting round Ecuador for new licenses in the southern part of the country. This suggests a change in Correa's policies and a new balance of power within the government. The groups that prioritize economic growth and high oil activity at the expense of a proactive environmental policy, seems to have succeeded.
There is great disappointment in Ecuador over the Yasuni-ITT Initiative is shelved, and it has aroused more resistance than the government seems to have anticipated. Yasuni has become a symbol of a new resource and environmental policies that appeal conagra investor relations to large segments of the population.
It is sammensa