CAMPAIGN: Don't let your money be invested in the destruction of Yasuní

In recent days, the Minister of Non-Renewable Natural Resources, Wilson Pastor, has declared that the BIESS (Bank of the Ecuadorian Social Security Institute) would be asked for an investment equivalent to half of the amount needed to exploit the oil in Block 31, around 180 million dollars of contributions from members. 

Block 31 covers about 801 TP3 T of the total area within the Yasuní National Park and is located less than 100 kilometers from the “Ishpingo, Tambococha and Tiputini” (ITT) project, a huge crude oil deposit located in the Amazon rainforest for which the Ecuadorian government is asking for large sums of donations - estimated at a total of 3.6 billion dollars - to prevent its exploitation.

According to surveys conducted nationwide, more than 601% of the population would be willing to contribute to the Yasuní initiative; the telethon held last December confirmed this, practically exceeding the goal set for the fundraising by one million dollars.

This decision, which contradicts the current Constitution, which in Article 407 states: “Extraction of non-renewable resources in protected areas and in zones declared as intangible, including forestry, is prohibited. Exceptionally, such resources may be exploited at the reasoned request of the Presidency of the Republic and after a declaration of national interest by the National Assembly, which, if it deems it appropriate, may call for a popular consultation,” was taken considering an environmental license that was granted to the transnational Petrobras under another legal framework.

Block 31 has few oil reserves, which are only profitable if combined with those produced by ITT.

This would constitute a double contradiction:

The popular will has been declared, in various and diverse ways, against the exploitation of the ITT. 

If the reserves of the 31st are so scarce, then this investment would be risky, to say the least, and money that belongs to the members would be put at risk. 

The figure of 180 million dollars is currently under discussion within the BIESS. It is the right time to resend the letter that we had submitted some time ago when we learned of this intention. The money from the IESS Bank is money from the contributors to the Insurance.

To sign the letter, Download it here , and forward it to the following email addresses:

Ramiro Gonzalez: rgonzalesj@iess.gov.ec , rgj@uio.telconet.net

Efrain Vieira: efrainvieira@biess.fin.ec

with copy to: info@amazoniaporlavida.org