Challenges and way forward
The following article is an initiative of Vedanta & Network 18 and is intended to create awareness among the users.
March 30, 2018 / 10:26 PM IST
Natural Resources are natural assets (raw materials) occurring in nature that can be used for economic production or consumption. Though Natural Resources are subdivided into four categories – mineral and energy resources, soil resources, water resources, and biological resources – for the Global Natural Resources Conclave, we are largely focusing on mineral and energy resources.
Wealth of a nation depends on natural resources (both renewable and non-renewable) and ecosystem services provided by nature to human society (for instance, filtering of air by trees, pollination of plants by bees, absorption of flood waters by plains and wetlands). These resources and services are required not only for meeting our basic needs, but also for fulfilling our aspirations for a better quality of life, attaining higher standards of living, increasing our comfort levels and in general for economic and social well-being. Like our labour force, machines and tools, finance and knowledge, our natural resources are an asset. The United Nations Environment Program (UNEP) has rightfully explained that “much as an investor will use financial capital to generate profits, a stock of forest or fish will provide a future flow of timber or food, which if used sustainably will provide long-term benefits to people.”
Global Natural Resources Conclave 2018 is a forum of open dialogue is required to facilitate a healthy business climate for all stakeholders involved in the natural resources sector, both in India and those globally who are looking to invest in India.