Borrowing from the Future: Natural Environment & Intergenerational Equity | an interactive session with Rahul Basu
At this interactive session, our speaker Rahul will share with us the concept of Intergenerational Equity, and he will discuss it through the example of the situation of mining in Goa. After the initial sharing, we will move into a discussion segment.
What is Intergenerational Equity?
The principle of Intergenerational Equity (IE) is, at its heart, quite simple. It is our duty to ensure future generations inherit at least as much as we did. Only if we succeed do we have a right to consume the fruits of our inheritance. Any loss is a loss to the people and all future generations.
Goa Foundation's Work
We have heard and seen mining devastate the environment and local communities, giving rise to numerous conflicts across India and the world. Goa Foundation, the environmental non-profit, has battled out-of-control mining for over four decades. The Goa iron ore mining ban in 2012 is the most famous outcome.
In 2014, the Supreme Court ordered a cap on mining and the creation of the Goa Iron Ore Permanent Fund, on grounds of intergenerational equity and sustainable development. And auctions of mines are now mandatory.
Our National Mineral Policy 2019 states “natural resources, including minerals, are a shared inheritance where the state is the trustee on behalf of the people to ensure that future generations receive the benefit of inheritance.” This is not a coincidence. Goa Foundation has been advocating and litigating for the Shared Inheritance paradigm. Designed to be fair to all stakeholders, it can inform how we see the energy transition and the global sustainability crisis.
About Rahul
Rahul Basu works on implementing intergenerational equity, beginning with minerals in Goa. With a background in the world of finance and economics, Rahul proposals have resulted in the creation of the Goa Iron Ore Permanent Fund.
He spearheads the campaign to modify the treatment of mining in the IMF’s Government Finance Statistics Manual and the UN’s System of National Accounts.
Rahul is Research Director, Goa Foundation, an environmental non-profit in India, and a member of The Future We Need, a global movement to make intergenerational equity foundational for civilization.
Checkout some of Rahul's work at:
Additional Details
There is no fee to join the session. We will have a voluntary donation box / QR Code at the venue to support the programming.
P.S.: There's limited seats! Sign up soon.
Who is hosting?
The event is being hosted by Veditum India Foundation and Kolkata Change Makers.