Thursday, September 03, 2009

Are They Green For Real? Follow the Money!

Watch their feet or follow the money if you want to know if someone is really in favor of something. In this case, it seems Germany is putting money up to help save Amazon Forest!
clipped from news.mongabay.com
Germany to pay Ecuador $650 million to forgo oil drilling, protect rainforest reserve
mongabay.com
September 03, 2009

Business Green reports that Germany will provide Ecuador with $650 million over the next 13 years to fund a transition to a low carbon economy, while forgoing development of oil reserves in the Ishpingo-Tambococha-Tiputini (ITT) concession of Yasuni National Park. Ecuador would still need to raise another $310 million by 2011 however to make the project a reality. The government believes the total cost of protecting the area permanently would be $3.6 billion, or roughly half what the state would receive from auctioning off the reserve to drillers.
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