Last month, Ecuador’s government approved permits for oil drilling in the Yasuní National Park. The drilling will be carried out by a subsidiary of the national oil company, Petroamazonas and will start in 2016.
Yesterday, officials from the Police Administration of Pinchincha closed down Fundación Pachamama’s office in Quito. They left a resolution from the Ministry of Environment stating that the organisation is dissolved.
“REDD+ projects can be expected to have poor social and environmental outcomes unless they use substantially different approaches, which build on the capabilities of the wide range of local natural resource managers to undertake efficient resource management and conservation in the Amazon.”
Ecuador has abandoned its plans to leave the oil where it belongs under the Yasuní National Park. Ecuador was asking for US$3.6 billion, or half the market value of the 850 million barrels of oil in the Ishpingo-Tambococha-Tiputini (ITT) oil field below Yasuní. Last week, Ecuador’s president Rafael Correa cancelled the plan and announced that…
BluForest Inc claims to be setting up REDD projects in Ecuador. It plans to generate carbon credits from 105,000 hectares of land in Ecuador. BluForest announced last week that it had signed a letter of intent with Global Fuel Limited for the pre-purchase of carbon credits.