In August, Ecuador is gearing up for a momentous event, that could further influence the fossil fuel phase out debate at COP28. The decision to leave the large oil reserves within Yasuní untouched will be determined by referendum. This is the first time Ecuadorians will vote on such an ecological issue, and it will have significant implications for the country’s economic model.
The Yasuní National Park is a crucial biodiversity hotspot and home to the Tagaeri and Taromenane people living in isolation. However, the park has been threatened by extractive industries, particularly oil and mining. Over the years, oil operations by Petroecuador have led to deforestation, oil spills, and harm to the environment.
Activists, led by the Yasunidos coalition of NGOs, have called for the vote to protect the rainforest and halt oil drilling in the region. The current government believes that approving the referendum could have negative economic consequences.
However, experts argue that the benefits from oil in the Amazon may not be sustainable in the long term, given the low-quality crude and challenges in processing and selling it. The referendum presents an opportunity for Ecuador to reconsider its future, with some experts suggesting a shift towards sustainable tourism and a bioeconomy.
For the indigenous communities living in the Amazon, the vote is crucial for respecting their human rights and ensuring a dignified life. While the referendum may not immediately stop oil production, experts emphasize the importance of gradually implementing changes to protect the environment and transition to more sustainable economic models.
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