
On August 3, the Ecuadorian government signed a landmark deal to prevent drilling for oil in the ecologically unique Ishpingo-Tambococha-Tiputini areas of the Yasuni National Park (Yasuni-ITT).
The agreement, signed by the government of left-wing president Rafael Correa and the United Nations Development Program (UNDP), guarantees that the estimated 900 million barrels of oil that lie beneath the pristine Amazonian region will remain untouched, as will the forest above.
In exchange, Ecuador will receive US $3.6 billion as compensation for the revenue it would otherwise have made from the oil – about half its estimated value.
The Yasuni National Park is an area of world-significant biological diversity, covering 982,000 hectares in the Amazonian rainforest and Andean foothills. It is considered one of the most biodiverse sites on Earth, containing more tree species in one hectare than in the entire United States and Canada combined.
It shelters at least 28 highly endangered vertebrates including jaguars, the white-bellied spider monkey, the giant otter and the Amazonian manatee, and hundreds of species found nowhere else on Earth.
Yasuni is also the ancestral territory of the Huaorani people, as well as two other indigenous tribes who live in voluntary isolation, the Tagaeri and the Taromenane.





