November 2, 2021 — Ecuador will increase the area protecting the Galapagos Marine Reserve by 60,000 square kilometers, Ecuador President Guillermo Lasso announced at the United Nations COP26 climate summit taking place in Glasgow, Scotland.
The reserve will grow nearly 50 percent in size from its current 130,000 square kilometers, Lasso said. Ecuador’s newly created reserve would expand northward to include the Cocos Ridge and would completely ban industrial fishing in the reserve, as well as subsistence fishing in some areas. The move would be financed by a “debt-for-conservation swap,” according to Lasso, whereby Ecuador’s external debt could be forgiven in exchange for local investment in conservation programs. He did not provide further information. The South American nation’s external debt is nearly USD 46 billion (EUR 39.7 billion), equivalent to 45 percent of the country’s GDP.
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