SUSTAINABLE DEVELOPMENT AND THE EXPLOITATION OF NATURAL RESOURCES

Two aspects of sustainable development will be examined with regard to the exploitation of natural resources: the intergenerational fairness challenge of the Brundtland Commission (development that meets the needs of the present without compromising the ability of future generations to meet their own needs) and the intragenerational fairness challenge of the Rio Declaration 1992 to achieve an equilibrium between economic, ecological and social requirements.

To achieve these goals, especially the intergenerational fairness, we first have to realize that we do not need raw materials as such but rather an intrinsic property that fulfils a function. For finding solution for functions we have three resource pools at our disposal: the geosphere, i.e. primary resources, the technosphere, i.e. secondary resources which can be reused via recycling, and human ingenuity and creativity. In a free market system human curiosity and price incentives are the motor for finding solutions for functions.

Concerning the intragenerational fairness challenge we have to realize that there are many shortcomings at present: richness in natural resources frequently does not translate into well-being of a country (curse of plenty, Dutch disease). The most corrupt countries are frequently resource-rich countries. Therefore an important element to achieve this goal is good governance. One tool for enforcing good governance in a country is the Extractive Industries Transparency Initiative (EITI) of the international community. Another element to bring economic, ecological and social aspects in the process of exploiting natural resources into a state of equilibrium is research and development of new and better technologies.