The papers will make the agreement between the UNDP and Ecuador official. After that there’s the task of procuring the money that will allow Ecuador to keep the oil underground. Germany is so far the only country to have promised an exact amount, while at least 50 other countries have expressed interest in contributing. (Even the US, in the wake of the BP spill, wants to be a part of it.)
Espinosa added that Nigeria and Guatemala want to try the initiative in their own countries.
So keep your eyes open next Tuesday. This is the most exact information we’ve received regarding the signing of these documents. If it happens it may be a great step towards a “post-petroleum” world.
Today she confirmed this and specified changes to the structure of the financial and political mechanisms in the proposal that the new committee has made over the past few months. These changes concern “Ecuador’s sovereign right to decide” the “process of participation” and the “definition of priorities” of the initiative.
She added finally that it’s unclear when the funds would begin coming in, but that the most important thing is that there is a financial mechanism in place to begin that process.