27 Apr '12, 5pm

Ecuador's Unique Plan to Forego Oil Extraction to Save Critical Forests (Video)

It's not a new idea, but it remains a revolutionary one: Fight climate change in part by paying biomass-rich nations to preserve their forests instead of cutting them down. The first elements of such a plan appeared in the Kyoto Protocol and it has been fleshed out in greater detail in the United Nation's REDD program . The problem with these programs, however, is that they are difficult to fund. Forests—especially the old-growth forests that are commonly the target—are incredibly valuable commodities and as such, it costs a huge amount of money to offset the missed financial opportunity of not harvesting them. In Ecuador, this problem is compounded in one special place: The Yasuni region of the Amazon. Declared a Biosphere Preserve by UNESCO in 1989, the region is home to an estimated 40% of all of the mammal species found in the Amazon basin—among many other plant and an...

Full article: http://www.treehugger.com/environmental-policy/ecuadors-u...

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