The development opportunities through exploration and improved recycling of natural resources and increased domestic resource mobilization (DRM) in developing countries are huge, as are the challenges to ensure their sustainable management. Both in relation to the economic model as such (resource curse, risk of external shocks, dependency/lack of diversification) as well as in relation to governance (corruption, public finances), environmental/climate aspects, the equality/social/labour dimension and the security/stability angle all of which have their own important policy and legal frameworks.
Climate Change is putting further pressure on the need for sustainable natural resource wealth management both in terms of phasing out fossil fuels and investing in clean energy sources, not least minerals to enable the green energy transition.
This panel will in particular look into how good governance of natural resources can contribute to increased domestic resource mobilization for natural resource rich developing countries through responsible and sustainable value chains on natural resources. How can fiscal policies help increase DRM? What paths shall developing countries consider? How does this fit into the wider context of the EU-African partnerships on sustainable raw material value chains.
Followed by some general remarks, the discussion will focus on country cases and examples of how Governments can reform fiscal policies and frameworks and how the international community can assist.