Climate-ABC: Yasuní-ITT-Initiative

In 2007, Ecuador launched the Yasuní-ITT initiative, a globally unique barter scheme.

In the area of the Yasuní National Park, oil extraction was to be abandoned in favor of climate protection and the indigenous population. As compensation, the international community was to pay half of the expected foreign exchange earnings into a compensation fund for 20 years (a total of 3.6 billion US dollars) as a sign of joint responsibility.
Contrary to what had previously been decided, Germany also refused to make the planned payments. The then Development Minister Dirk Niebel (FDP) justified the refusal in 2010 on the grounds that similar projects could be set up and these would also have to be financed.
Since not enough money was raised, Ecuador declared the initiative a failure in 2013. Three years later, drilling has begun.

Klimaretter. (n.d.). Yasuní-ITT-Initiative. Retrieved 12 07, 2020, from

OroVerde – Die Tropenwaldstiftung. (2014, 06). Fakten & Positionen. Die Initiative Yasuni-ITT.