Abstract
In 2007, Ecuador proposed to leave unexploited, one of the most bio-diverse regions on the planet, one of its most important oil reserves in the Yasuni National Park in exchange for financial contributions from the international community. This proposal led to the new climate change mitigation mechanism, “Net Avoided Emissions” (NAE), within the United Nations Framework Convention on Climate Change (UNFCCC). This paper describes the Yasuni Ishpingo Tambococha Tiputini (YasuniITT) initiative, the characteristics of its proposed mitigation mechanism and compares it with other existing mechanisms, and poses possible scenarios against the impending failure of the Yasuni-ITT Initiative. The NAE mechanism helps complementing other already established mechanisms such as Clean Development Mechanism (CDM) and Reducing Emissions Derived from Deforestation and Forest Degradation (REDD / REDD+), and takes into account several innovative aspects in climate change mitigation that would be more efficient in the net balance of
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