Yasuní-ITT initiative: a different conservation proposal

Abstract

Climate change is a reality and its adverse effects are already evident. Today, it is undeniable that temperature is rising, glaciers are melting, precipitation patterns are changing, producing heavy rains and floods in some regions; and droughts and desertification in others. As a result of these alterations in the climate, natural ecosystems and human life are being affected. Awareness with regard to the negative consequences of climate changes, the international community has established specific environmental policies and concluded international agreements so as to mitigate and avoid the occurrence of these outcomes. In this respect, the most important instruments addressing this issue are United Nations Framework Convention on Climate Change and the Kyoto Protocol, which aim at limiting greenhouse gas (GHG) emissions from Member States through the establishment of emission reduction targets, based on the principle of common but differentiated responsibilities. The Kyoto Protocol also created three mechanisms: The Emission Trading System (ETS), the Joint Implementation (JI) and the Clean Development Mechanism (CDM). The first two mechanisms can be used exclusively by industrialized countries to meet their binding reduction requirements. While the CDM is the only tool for coping with climate change that allows the participation of developing and least developed countries in environmental mitigation activities. This fact is considered a limitation of the current climate regime since these countries are more vulnerable to dangerous impacts of climate change due to their economies depend greatly on the exploitation of natural resources and they have limited or no financial and technological capacity to respond effectively to this challenge.