Investing for Sustainability

Author: Rognvaldur Hannesson
Publisher: Springer Science & Business Media
ISBN: 1461516870
Format: PDF, Mobi
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Mineral deposits are non-renewable; they do not grow in the ground. Sustainable use of finite mineral wealth requires that revenues from mineral extraction be invested in renewable wealth, education and infrastructure, machines and other production equipment, or in financial assets. Different countries, states and provinces have done so with a varying degree of success. Investing for Sustainability: The Management of Mineral Wealth highlights mineral rents investment funds in Norway, Alaska and Alberta, all of which derive considerable revenues from the production of petroleum bound to diminish over time. The book examines the institutional and political framework in which these funds are embedded and how successfully they have been used for making non-renewable petroleum wealth permanent. Investing for Sustainability: The Management of Mineral Wealth begins with a discussion of the elusive concept of sustainability. New technology and substitution has made a resource like peat obsolete long before it became exhausted physically. Jevons' famous book "The Coal Question" is discussed at some length as a case of unwarranted concern about the depletion of resources. The book also highlights other cases which strike a less happy note. Nauru, one of the smallest sovereign states in the world, has for decades lived off phosphate resources that are now running out. Nauru attempted to make its phosphate wealth permanent through investment funds but failed. Despite its success with its Permanent Fund, less of the oil wealth of Alaska has been made permanent than would appear warranted, and the same is true of Alberta and Norway. Judging from the experiences of the three funds, and the current political debate in Norway, Investing for Sustainability: The Management of Mineral Wealth suggests that it is essential that the citizenry at large benefit directly from mineral rents investment funds if they are to succeed.

Policies Regulatory Regimes and Management Practices for Investment Promotion and Sustainable Development of the Mineral Resources Sector in Economies in Transition and Developing Countries of East and South East Asia

Author: United Nations. Economic and Social Commission for Asia and the Pacific
Publisher: United Nations Publications
ISBN: 9789211201444
Format: PDF, Mobi
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There has been a fall in foreign direct investment in the mineral sector in the Asian and Pacific region during the past decade, due to a number of reasons such as the world recession, unstable prices for mineral commodities, unethical business practices and changes in government policy. This publication includes a series of papers presented at a training workshop, held in Bangkok in December 2001. The papers review critical and emerging issues of national mineral policy and management practices in investment promotion and sustainable development of the mineral resources sector, including policy options for a mining regulatory regime, decentralisation, land use, reclamation and mine closure.

Geological Resources and Good Governance in Sub Saharan Africa

Author: Jürgen Runge
Publisher: CRC Press
ISBN: 0203093291
Format: PDF
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This book looks at the distribution, occurrences, potential and prospects for good governance, transparency and sustainable development of geological resources in Sub-Saharan Africa. By bringing together numerous different point of views, it is carried out in a holistic, interdisciplinary and scientific way. The states of Sub-Saharan Africa are among the world’s most resource-rich regions – yet many of these countries are a long way from attaining their development potential – some are among the least developed in the world. Paradoxically, those countries that are most richly endowed with resources are often the least developed ("paradox of plenty"). This phenomenon is exacerbated in many African countries by inadequate governance; and yet, if the state is unable to provide basic services, the application of social and environmental standards in the extractive and processing sectors will not be effective. The idea for this volume was conceived during an international conference of the Commission de la Communauté Economique et Monétaire de l’Afrique Centrale (CEMAC) on ‘Geological Resources and Good Governance in Central Africa’ held in September 2009 in Yaoundé, Cameroon. International experts from the political, scientific and private sectors, along with civil society, came together and discussed the various demands being placed on good governance and transparency in the Sub-Saharan raw materials sector and the prerequisites that must be met, and considered how to seek answers to future challenges. New forms of inter-sectorial, transnational governance like the Extractive Industries Transparency Initiative (EITI) and civil society’s transparency movements like Publish What You Pay (PWYP) offer ways to take account of all the different stakeholder interests in the resources sector. In this book there is also a strong focus on artisanal mining, on gender and on the spread of HIV/AIDS in the mining sector. This publication is addressed to stakeholders in the field, including civil society, international and private development agencies, planners, politicians and decision makers; as well as to researchers such as earth scientists, economists, jurists and political scientists.

Mineral Rents and the Financing of Social Policy

Author: Katja Hujo
Publisher: Palgrave Macmillan
ISBN: 023037090X
Format: PDF
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Combining a theoretical approach with individual country case studies, this volume systematically analyses the relationship between mineral wealth, social development outcomes and social policy in developing countries. Chapters discuss how some countries manage to channel their resources into sustainable economic policies while others fail to do so; the factors that impede such investment; and whether boosting mineral rents can help promote democracy, social inclusion and economic development. This volume is unique and distinctive, moving beyond existing research to analyse the implications of natural resources for developing countries and focusing on the social and political implications of mineral rents.

Calculating Sustainable Non Mineral Balances As Benchmarks for Fiscal Policy

Author: Mr. Jens R. Clausen
Publisher: International Monetary Fund
ISBN: 1451914318
Format: PDF, Kindle
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Assuming a social welfare function that smoothes expenditure, this paper calculates a sustainability benchmark for the non-mineral balance in Botswana that is based on a notion of a "permanent income" from non-renewable resources. It is derived by constructing a hypothetical annuity from revenues from these resources, which is held constant in terms of GDP. Botswana is an interesting case because current projections suggest that diamond resources could be largely exhausted within a generation.

Sustainable Community Development Dilemma of Options in Kenya

Author: F. Waswa
Publisher: Springer
ISBN: 1137497416
Format: PDF, ePub, Docs
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Community development has lately gained much prominence, but the emphasis has remained on the economic and social welfare of communities, rather than the environment. By focusing on 'sustainable' development in Kenya, this study shows the importance of integrating ecological concerns in socio-economic and cultural development processes.