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Greetings: <br>
The fourth lecture in this year's Distinguished Lecture Series, sponsored
by CMI and The Cambridge University M.Phil Programme in Environmental
Engineering and Sustainable Development, will be given by Mark
Moody-Stuart. <br><br>
<br>
Title: <b>Does Resource Extraction Contribute to Development?<br>
<br>
</b>Abstract: There is little doubt that resource extraction
has contributed strongly to the economies of many developed countries
such as Canada, Australia and Norway. There is equally no doubt that in
developing countries at present the contribution is not always clear.
What makes the difference between successes and failures? Resource
extraction will not be beneficial unless the natural resources can be
converted into efficiently into other sorts of capital – infrastructure,
human capacity or other economic activity. The so called “resource curse”
can be split into three broad elements, partly inter-related but each
more challenging than the previous one – the economic impact, the
environmental impact, and the socio-political impact. The economic impact
of resource revenue is largely beneficial, although care is needed in
addressing issues such as crowding out of other economic sectors, local
inflation, proper infrastructure planning and revenue allocation.
Although some environmental impact is inevitable, it too can be largely
mitigated by use of technology. An exception is the wider impact on
climate, but one can argue that here too there exist technological
solutions, the problem is more our ability to develop frameworks which
encourage their use and development. The most difficult to address is the
socio-political impact. This includes governments which are freed by
large income flows from one sector from paying any attention to the needs
of the population or business at large, misallocation of resources,
corruption, strains between the resource producing areas and other areas
of the country and so on. These issues can be handled by sound governance
systems, including sound governance of business. Sound governance can be
developed by different parts of society working together. Business has a
strong interest in this, but it cannot and should not be the main
driver.<br><br>
Speaker:<b> Dr. Moody-Stuart</b> is Chairman of Anglo American plc. He
was Chairman of the Royal Dutch/Shell Group from 1998-2001. After
doctorate in geology in 1966 at Cambridge, he worked for Shell in various
roles starting as an exploration geologist, living in The Netherlands,
Spain, Oman, Brunei, Australia, Nigeria, Turkey and Malaysia, as well as
the UK. <br><br>
He is a Director of HSBC and of Accenture, a Governor of Nuffield
Hospitals, President of the Liverpool School of Tropical Medicine and on
the board of the Global Reporting Initiative and the International
Institute for Sustainable Development. He is Chairman of the Global
Business Coalition for HIV/AIDS and Co-Chair of the Singapore British
Business Council. He was Co-Chair of the G8 Task Force on Renewable
Energy (2000 – 2001) and was Chairman of Business Action for Sustainable
Development (BASD), an initiative of the ICC and the World Business
Council for Sustainable Development before and during the World Summit on
Sustainable Development in Johannesburg in 2002. He was a member of the
UN Secretary General’s Advisory Council for the Global Compact 2001
-2004. <br><br>
Date & Time:<x-tab> </x-tab>Wednesday, March
1, from 1 - 2:30<br><br>
Location:<x-tab> </x-tab>The
lecture will be broadcast from the UK and received in MIT Room
8-404.<br><br>
For details on other lectures in the series, visit
<a href="http://ceeserver3.mit.edu/CMI%20Distinguished%20Lectures.pdf" eudora="autourl">
http://ceeserver3.mit.edu/CMI%20Distinguished%20Lectures.pdf<br><br>
<br>
</a>-Gayle </body>
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