Also, Ecuador relies heavily on hydroelectric power. Recent droughts and extended electrical black-outs throughout the country have also raised awareness of the issue’s importance, particularly in light of projected climate change. With the end of páramo conservation – including a focus primarily on preserving its hydrological services - several new and innovative conservation initiatives have taken hold around the country, including several compensation for ecosystem services (CES) programs. At the forefront of these is the national government’s Socio Páramo (“Páramo Partner”) program launched in mid-2009 by the Ministerio del Ambiente, where landowners enter into 20-year agreements to conserve their existing páramo in exchange for monetary payments. Additionally, several of the country’s largest municipal water companies - including those of the
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cities of Quito, Cuenca, and Loja - have implemented a water user conservation tax. Revenue will fund various conservation programs aimed at protecting and regenerating páramo and other natural cover in their surrounding watersheds. FCT also has plans in place for implementing a CES program in the Nudo del Azuay.
It is also worth noting that páramo and its high levels of soil carbon is spurring interest among the few countries that have páramo (Costa Rica, Colombia, Ecuador, Peru, and Venezuela), to gain international funding through the United Nations’ REDD-plus Programme and other global carbon markets. In fact, Ecuador’s long-term national conservation strategy is predicated on gaining funding through these emerging markets.