Scenarios

The three scenarios suggested are focused primarily on two options of the social choice problem: exploiting or leaving fossil fuels in the ground.

According to relevant proposals taken from the Yasuní  ITT case, two scenarios for leaving fossil fuels in the ground are considered: Leaving fossil fuels in the ground with international (mainly, but also national) economic compensation, and leaving fossil fuels in the ground without economic compensation as the Ecuadorian State assumes the responsibility about people and nature’s rights.

A description of scenarios is presented here below:

1. Leaving fossil fuels in the ground with monetary compensation (actual situation)

Economic contributions from states, institutions, individuals, are made to the Yasuní ITT fund. This helps the State compensate for at least 50 % of the economic loss resulting from the decision to leave fossil fuels in the ground. At the same time, the State is committed to leave petroleum in the ground indefinitely and to invest in the development of new energy sources in Ecuador.

2. Leaving fossil fuels in the ground without economic compensation

The Ecuadorian State and Civil Society, primarily assumes that biodiversity and people protection and conservation is the priority. The State takes responsibility for protecting people and nature’s rights; and petroleum is left in the ground without any mechanisms of economic compensation.

3. Execution of petroleum extraction project in Yasuní  ITT fields

The State allows petroleum extraction activities in Yasuní ITT fields. Usual policies and regulatory procedures are followed. This scenario may or may not include a policy aimed at mitigating the environmental and social impacts through cleaner processes, and development of environmental and social programmes.