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NEWS ALERTS | Ethical Mining: Permanent Funds & Inter-generational Equity
Ethical Mining: Permanent Funds & Inter-generational Equity

Ethical Mining: Permanent Funds & Inter-generational Equity

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published Published on Feb 17, 2015   modified Modified on Feb 18, 2015

The Publics and Policies Programme of the Centre for the Study of Developing Societies (CSDS) in partnership with Goa Foundation and the Inclusive Media for Change is holding deliberations on “Permanent Fund Model for Ethical Mining: Land, Livelihoods and Intergenerational Equity” starting with a one-day conference on Feb 18 at India International Centre, New Delhi. The debate will continue on the im4change website.

The idea is to discuss natural resources extraction from the viewpoint of inter-generational equity (IE) and Permanent Funds (PF) for just and efficient management of India's finite natural resources sector. The issue overlaps with many laws and has direct bearing on the lives and livelihoods of tribals and other communities in India's poorest regions.

For those interested in the concept of IE and PFs, the im4change team has put together a concept note and a number of links at the end of this note. We understand that the issue of mining involves the whole gamut of democratic governance, sustainable development, federalism, citizenship, regulation and the rule of law. It has profound impact on lives and livelihoods and health and environment of common people.

Far from being a solution, the issue of Permanent Funds only opens up a wide-ranging debate about the nature of development we want. It raises a number of questions such as: Is economy a subset of ecology or the other way around? Have we inherited the earth from our ancestors or has it been lent to us by our future generations? Can we absolve our own ecological calamities by creating financial assets? What kind of balance must be kept between investments in banking instruments or meeting unmet needs of the present generations? Is a wealth fund in perpetuity (open to currency/market instabilities) a better option than investing in nutrition, public health, education and infrastructure?

For more information please click on the links below:
 
Supreme Court Judgement on Permanent Fund for Inter-generational Equity and sustainability of mining in Goa (Please click here to access)

Concept note on Permanent Fund Model for Ethical Mining (Please click here to access)

Implementing Intergenerational Equity in Goa by Rahul Basu, Economic and Political Weekly, Vol xlIX, No. 51, 20 December, 2014 (Please click  here to access)

Implementing Intergenerational Equity in Goa by Rahul Basu (Please click here to access)

The Goenchi Mati Permanent Iron Ore Fund -Proposal submitted by the Goa Foundation to the Goa Government (Please click here to access)

In a first, Supreme Court order on Goa mining aims to use natural wealth for public good -Mridula Chari, 23 April, 2014 (Please click here to access)
 
How Norway grew a $600 billion sovereign fund from oil -Alex DeMarban, Alaska Despatch News, 5 November, 2011 (Please click here to access)
 

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