Ecuador under the government of Rafael Correa moved from burning fossil fuels for electric generation to an entirely renewable energy matrix dominated by hydro-electric generation. He also proposed that global north nations pay to keep fossil fuels under the ground in the south to combat climate change without leaving us entirely out of the benefits of such development. Ultimately the project to leave oil under thr ground failed when foreign governments insisted the money not go to the central government but instead be administered by a trust which donors would have a large say over and the rising oil prices made such offers insufficient and overly conditioned - nonetheless a pioneering proposal and a shame that it wasn’t concluded successfully.
Ecuador under the government of Rafael Correa moved from burning fossil fuels for electric generation to an entirely renewable energy matrix dominated by hydro-electric generation. He also proposed that global north nations pay to keep fossil fuels under the ground in the south to combat climate change without leaving us entirely out of the benefits of such development. Ultimately the project to leave oil under thr ground failed when foreign governments insisted the money not go to the central government but instead be administered by a trust which donors would have a large say over and the rising oil prices made such offers insufficient and overly conditioned - nonetheless a pioneering proposal and a shame that it wasn’t concluded successfully.