Financing Sustainable Development: Plenary
session 5
| Session summary |
| Mr Ian Johnson highlighted the increasing importance of
market based instruments like pollution taxes in generating sufficient resources for
sustainable development. He emphasized the need for creating and enforcing property rights
to induce incentives for sustainable development at individual and community level. Dr
Andrew J Bennett and Mr Ramachandran discussed the role of multilateral agencies in
context of ensuring that the resources are utilized in the most efficient manner. Mr. Nick
Robbins cogently brought out the potential of socially responsible investment (SRI) and
the various issues surrounding it. He detailed the SRI initiatives that his firm,
Henderson Global Investors, has taken worldwide to address the global challenge of poverty
eradication with limited resources. Dr E A S Sarma
held that besides multilateral agencies and market mechanisms, subsidies and improved
governance have key role in funding development assistance. He contended that the poor
should be given a platform to air their apprehensions. |
| Chairperson |
Mr
Ian Johnson
Vice President, Environmentally and Socially
Sustainable Development
The World Bank, USA "Markets, like
economists are very myopic."
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| Panellists |
Dr
Andrew J Bennett
Chief Natural Resources Adviser, DfID, UK
"Somewhere between economics and science, individuals in a society choose to live in
a particular way."
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Mr
C Ramachandran
Executive Director, ADB, The Philippines "Sustainable
development demands a greater role from multilateral agencies." |
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Mr
Nick Robins
Socially Responsible Investment Team, Henderson Global
Investors, UK"Inadequate flow of finance for sustainable development is a
principle bottleneck in emerging markets."
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Dr
E A S Sarma
Former Secretary, Department of Economic Affairs,
Government of India"The most important thing in institutions of developing
countries is to improve governance. And this can happen only when delivery systems involve
community participation." |
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