Yasuni-ITT Initiative Gains Traction

At a High-Level Meeting held during the 66th session of the UN/GA, the UN/S-G praised the Yasuni-ITT Initiative* for showing that "sustainable development is possible, it only takes leadership, creativity and commitment." The UN/GA President encouraged countries to share the lessons learned and best practices from the Initiative, and to bring them to bear at the at UNFCCC/COP-17, as well as Rio+20.During the meeting, the Trust Fund received pledges totaling US$53.3 million from the Governments of Colombia, Italy and Peru, and from regional governments in Belgium and France.

Ban Ki-moon's Remarks
UN/GA President's Remarks



* In 2006, the Government of Ecuador proposed to indefinitely refrain from exploiting the 860 million barrel Ishpingo-Tambococha-Tiputini (ITT) oil reserve in the Yasuni National Park if the international community could provide it with at least half of the estimated US$7.2 billion value of the reserves. In August 2010, Ecuador and UNDP agreed to set up a trust fund with an initial goal of reaching $100 million by end-2011. The trust fund was first open only to governments and corporations willing to donate US$100,000 or more, but on 12 September 2011 UNDP announced it would also start accepting donations from individuals and others for as little as US$25. Trust fund monies are to be earmarked for social development, renewable energy, reforestation and conservation, as well as for research, science, technology and innovation.