In light of the recent boom in natural resource prices, India is one of them many countries facing heightened scrutiny of the allocation and terms of their resource deals. In India, that scrutiny has uncovered a multi-billion dollar controversy over coal block allocations that has gridlocked Parliament. More generally, citizens in resource-producing countries around the world are asking whether the public is getting a fair value for their countries resources, or whether investors and politicians are walking away with the prize. Finally, the important questions are being asked: how should resources be managed to ensure that they benefit the citizenry, rather than sitting idle or ending up enriching the rich and powerful at the expense of the public?
Lisa E. Sachs, Jacky Mandelbaum & Perrine Toledano,
Devil in the Bidding Detail,
The Indian Express, September 28, 2012
Available at: https://scholarship.law.columbia.edu/sustainable_investment_staffpubs/162