As more politicians become aware of the need to do something about climate change before we’re all swallowed by the oceans we came from, discussions are focusing on how to measure what countries are doing about it and what steps to take to contain it.
An accounting trick that could save the planet should perhaps be given more attention: adjusting each country’s gross domestic product data by the effect that particular country has on climate change.
Continue readingProbably not many people waking up next Sunday 21 March will be aware that it is the International Day of Forests — but they should be.
Continue readingAmong developed countries investors, there are various interpretations of the strength of the commitment to environmental, social and governance (ESG) factors in emerging markets, ranging from the cynical to the idealistic.
The cynical view would be that there can be no “real” ESG in emerging markets because too often they are plagued by corruption, therefore investors cannot trust what companies in these countries report.
The idealistic view, on the other hand, would see every little step towards introducing ESG as a wonderful sign that these countries are finally deciding to adopt the same values as Western democracies.
While both extremes are wrong, sadly even the moderate take misses the main difference between emerging markets and developed ones: the effect of development itself on ESG — and in particular on the “E”.
Regional development banks need to give up vested interests and coordinate their efforts more if they want to truly fulfil their mission of helping developing countries.
This was the essence of a speech by the president of the European Bank for Reconstruction and Development (EBRD), Sir Suma Chakrabarti, at the Washington-based Peterson Institute ahead of the annual meetings of the International Monetary Fund and the World Bank.
By Sourajit Aiyer
“My dear gentlepeople!” I do hope this is the way in which Indian Prime Minister Narendra Modi starts his address to our American friends, during his upcoming visit to the USA. The quirky title is intentional — replacing “ladies and gentlemen” with “gentlepeople” just like the term Chairperson has increasingly replaced Chairman. The aim is to show a deviation from the traditional, to prove that one has changed with the changing times.
By: Sourajit Aiyer
Private and foreign interest in India’s higher-education sector is way below the potential. This interest is largely restricted to the more unregulated segments like technical, professional and vocational education. The school and university segments (which form the larger chunk of the sector) are not on the radar due to archaic regulations.
By: Sourajit Aiyer
It is fashionable to say that the government has no business to be in business. But this is easier said than done, as governments bearing the liabilities of ailing Public Sector Undertakings (PSUs) – essentially state-owned companies — may vouch.
State-owned companies have played a critical role in initiating their nations’ commercial capabilities post-independence, given the absence of private capital. But government patronage through bailouts, job-secured inefficient management and gaps between strategies and realities on the ground spelt doom.
By: Sourajit Aiyer
As India undergoes federal elections with 800 million eligible voters, what do the contenders for the Prime Ministerial role mean for its economy?
Leading the race are Rahul Gandhi, the candidate of the Congress Party-led UPA coalition, and Narendra Modi, the candidate of the Bharatiya Janata Party-led NDA coalition.
Challenging them are Arvind Kejriwal of the new Aam Aadmi Party, as well as bigwigs from regional parties who can form a possible Third Front alliance.
By: Sourajit Aiyer
An advance in annual gross domestic product of around 3% in recent years does not reflect the true potential of Pakistan, a country of 180 million. While recent positives highlighted in the second review of the IMF during its assistance programme for the country suggest the economy is taking constructive shape, a lot is still needed to sustain and enhance that momentum.