Science Magazine – Germany’s Withdrawal of Funding Threatens Plan to Save Ecuador Forest
Update on Ecuador’s plan to forgo oil drilling in a rainforest preserve in exchange for cash payment:
The Ecuadorian government’s plan to keep oil in the ground in Yasuni National Park in exchange for compensation from world governments has taken a severe blow in recent days. Germany had tentatively pledged up to $50 million a year for the so-called Yasuni ITT Initiative but had reportedly been having second thoughts. Last week, the Die Zeit newspaper disclosed that the country was indeed withdrawing its support, and German officials and others involved in the negotiations for the funding have confirmed that decision.