In the year 2007, President Rafael Correa of Ecuador, initiated the Yasuni ITT project by means of which Ecuador offered a perpetual suspension of oil extraction in part of the Yasuni National Park called Ishpingo-Tambococha-Tiputini (ITT) against a fiscal compensation from the international community of $ 3.6 billion. roughly half of what Ecuador would have realized in revenue from exploiting the resources at 2007 prices, which will have prevented an estimated 410 million metric tons of fossil fuel generated carbon emissions into the atmosphere . By 2012 only $200 million had been pledged. As well, creation of jobs that would have benefited the country, with the oil revenues. Various economic rationales converge on roughly the same payment. The reserve has around 846 million barrels, or 20% of the country's proven oil reserve. The aim of the initiative is to conserve biodiversity, protect indigenous peoples living in voluntary isolation, and avoid the release of CO₂ emissions.