The Government of Ecuador launched a plan backed by the Inter-American Development Bank (IDB) to reduce greenhouse gas emissions in the Galápagos Islands. The energy transition plan, called Energy Evolution, will also help Ecuador lower the fiscal burden of its liquid fuel and electricity subsidies by drastically cutting fossil-fuels use and building out renewable energy capacity in the archipelago.
Under its plan for the Galápagos Islands, Ecuador will reconfigure its electricity generation mix, optimize energy consumption among end users, overhaul its electricity infrastructure, and transform the Galápagos into "smart islands" through automation and digitalization. The plan will also use carbon markets to finance programs based on communities, ecosystems and nature; promote female participation in the electricity sector; and empower beneficiaries to lead the transition process.
The energy transition is essential to preserving the environment and achieving sustainability in the Galápagos Islands, which are recognized as a World Natural Heritage Site and biosphere reserve. Reducing greenhouse gas emissions protects biodiversity, enhances energy autonomy and creates new economic opportunities for the archipelago's population.
Through the projects in this plan, Ecuador can potentially eliminate 130,411 tons of CO2 emissions from 2025 to 2030, opening the door to carbon-market financing based on certified emission reductions. The target is to achieve carbon neutrality by 2050, which will require new technologies; new energy sources, such as green hydrogen, biomass and geothermal; and other measures.
"The IDB is proud to provide technical and financial backing for this energy transition plan. It represents another step by Ecuador and the region towards decarbonization and sustainable energy sources, as well as a commitment to the environment and sustainability of the Galápagos, a natural heritage site," said Ariel Yépez-García, IDB Infrastructure and Energy Manager.
The IDB has supported the government's efforts to achieve a transition to low-carbon energy driven by both the public and private sectors. In the Galápagos Islands, the IDB Group has mobilized technical and financial resources to sustainably implement this historic plan for the archipelago, with the goal of generating 85% of the islands’ power from renewable energy sources and storage by 2030 and 100% by 2040.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research projects and provides policy advice, technical assistance, and training to public- and private-sector clients throughout the region. Take our virtual tour.
Energía para el futuro (Enregy for the Future)