President Correa Gives Ecuador's Yasuni-ITT Initiative a Positive Evaluation

QUITO, Ecuador, Jan. 6, 2012 /PRNewswire/ -- Following a December 20 end-of-year evaluation meeting, Ecuador's President Rafael Correa resolved his commitment to extend the country's Yasuni-ITT Initiative by setting a new fundraising challenge of securing US$291 million in contributions annually in 2012 and 2013. The decision came prior to an assessment required by the terms of the Trust Fund agreement signed with the United Nations Development Programme (UNDP) as part of Ecuador's commitment to permanently prevent oil extraction from the Ishpingo-Tambococha-Tiputini (ITT) oil fields in Yasuni National Park, identified by scientists as the most biodiverse park in the western hemisphere.

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Ivonne Baki, Plenipotentiary Representative for the Yasuni-ITT Initiative, announced the continuation of the important initiative with an emphasis on international contributions, and noted that in just seven months of an intense work schedule, including numerous domestic events and a media campaign that raised public support of the initiative to 87.3% of Ecuadorians, US$116,852,503 was raised, comprising cash contributions, specific commitments, non-reimbursable contributions for technical cooperation, and contributions-in-progress. During the meeting, Ms. Baki noted that the figure comprises about US$69 million that various national and regional governments, non-government organizations, corporations, and private individuals have agreed to contribute through the UNDP-managed Yasuni-ITT Trust Fund and US$47 million in bilateral technical assistance to Yasuni National Park from the Government of Germany.

Ms. Baki stressed that in order to meet the goals for the 2012-2013 period with contributions from the international community, the Yasuni-ITT Initiative intends to launch an aggressive  advertising, social networking and promotional campaign focused on  Europe, North America, and Australasia. The campaign will include meetings with governments, civil society, philanthropists, and entrepreneurs, all of whom have expressed an interest in supporting the initiative and from whom important contributions are expected.

Ms. Baki also announced that 501(c)3 tax-exempt donations for donors within the United States are now being accepted at www.Yasunisupport.org, a move welcomed by many companies, entrepreneurs, and private individuals interested in making tax-exempt contributions to Yasuni-ITT.

"In 2011, we undertook serious efforts to raise awareness and support in Ecuador and around the world for the Yasuni-ITT Initiative. Moving forward, we must invest even more to reach our goals not only for 2012 and 2013, but ultimately to reach our total objective of receiving US$3.6 billion in contributions over 13 years," Ms. Baki stated, noting that during 2011, there were 12 official trips by the Yasuni-ITT Commission to 37 destinations worldwide – work which will now result in countries, donors, and business executives coming to Ecuador in 2012, eager to see Yasuni first-hand.

Ms. Baki went on to thank the Ecuadorian people for their support, especially the youth that have rallied in support of the campaign, and the President for giving her the best opportunity to serve her country. She also thanked the United Nations Development Programme's Multi-Partner Trust Fund Office for their management of the international Trust Fund, ensuring that it provides open and transparent management to the public. 

Ms. Baki also responded to recent inaccurate speculation by affirming that among the US$116 million in contributions received thus far "not a single contribution from Chevron, a company for which I have never worked and I've never served, can be found." She added that Yasuni-ITT would not rule out a contribution from the company, but only on the grounds that such a contribution would in no way interfere with the current long-standing litigation between the oil company and Amazon residents.

About the Yasuni-ITT Initiative

The Yasuni-ITT Initiative is a commitment by Ecuador to permanently keep nearly 850 million barrels of oil underground in Yasuni National Park's Ishpingo-Tambococha-Tiputini (ITT) oil fields. Yasuni National Park, located in the Ecuadorian Amazon, has been identified by leading international scientists as having the highest concentration of biodiversity in the western hemisphere.

Through this unique initiative, Ecuador is taking bold action to address the challenges of climate change, prevent deforestation, preserve the earth's precious biodiversity, and protect indigenous peoples living in Yasuni. The Yasuni-ITT initiative will avoid the emission of 407 million metric tons of CO2 by forgoing extraction and burning of fossil fuels, and will lead to an additional savings of 800 million metric tons of CO2 from avoided deforestation and reforestation it will promote nationally.

The Yasuni-ITT Trust Fund, administered by the Multi-Partner Trust Fund Office of the United Nations Development Programme (UNDP), was established in August 2010 to transparently receive and manage international contributions from supporters of the Yasuni-ITT Initiative. In the spirit of co-responsibility, Ecuador is requesting that the world community contribute 50 percent of the income it is forgoing, amounting to US$3.6 billion (over a 13 year period), with the balance being the contribution of the people of Ecuador to global goods. 

The raised funds will go towards investment in alternative energy, the objective being a complete overhaul of the country's energy matrix away from oil dependence and towards sustainable development. Funds will also go towards social programs in Ecuador and building infrastructure such as hospitals and schools.

Visit www.Yasunisupport.org for more information and to contribute to the Yasuni-ITT Trust Fund.

For media inquiries, please contact Marc Smrikarov at [email protected] or +1-212-486-7070.

These materials are distributed by Brown Lloyd James on behalf of the Yasuni-ITT Initiative. Additional information is available on file with the Department of Justice, Washington, DC.

SOURCE Yasuni-ITT Commission