Local Content and Sustainable Development in Global Energy Markets

Local Content and Sustainable Development in Global Energy Markets explores the issue of the critical intersections between local content requirements (LCRs) and the implementation of sustainable development treaties in global energy markets, highlighting the potential negative social, human rights, and environmental outcomes of inappropriately designed LCRs. It advocates for a sustainable and rights-based approach to the design, application, and implementation of LCRs to avoid misalignments and encourage foreign participation in a country's energy market.

\n Format: Hardback
\n Length: 375 pages
\n Publication date: 04 March 2021
\n Publisher: Cambridge University Press
\n

The book titled "Local Content and Sustainable Development in Global Energy Markets" delves into the intricate and highly debated topic of the crucial intersections between local content requirements (LCRs) and the implementation of sustainable development treaties in global energy markets, encompassing regions such as Africa, Asia, Europe, North America, Latin America, South America, Australasia, and the Middle East. While LCRs are generally intended to promote domestic value creation, economic growth, and job opportunities, their inappropriate design and implementation can lead to negative social, human rights, and environmental consequences. A misalignment between a country's fiscal policies and global sustainable development goals can also deter foreign participation in its energy market. Recognizing these potential risks, this book offers a comprehensive framework for designing, applying, and implementing LCRs in global energy markets, emphasizing transparency, accountability, gender justice, and other human rights issues. By adopting a sustainable and rights-based approach, the book aims to mitigate the unintended consequences and ensure that LCRs contribute to the overall development of global energy markets while respecting and protecting the rights of all stakeholders.

Introduction:
Local content requirements (LCRs) have gained significant attention in global energy markets, particularly in developing countries seeking to promote economic growth, create jobs, and diversify their energy sources. However, the implementation of LCRs raises important questions about the balance between promoting sustainable development and ensuring fair competition. This book aims to analyze the topical and contentious issue of the critical intersections between LCRs and the implementation of sustainable development treaties in global energy markets, including Africa, Asia, Europe, North America, Latin America, South America, Australasia, and the Middle East.

Local Content Requirements (LCRs):
LCRs are policies that require a certain percentage of goods, services, or capital to be sourced from local suppliers or manufacturers in order to stimulate local economic development. The rationale behind LCRs is to promote domestic value creation, stimulate local industries, and create job opportunities. However, the design and implementation of LCRs can have unintended consequences.

Negative Social, Human Rights, and Environmental Outcomes:
Inappropriately designed LCRs can lead to negative social, human rights, and environmental outcomes. For example, LCRs that prioritize local employment over environmental protection can result in the exploitation of workers and the degradation of natural resources. Similarly, LCRs that discriminate against certain groups of people, such as women or minority communities, can exacerbate social inequalities and human rights abuses.

Misalignment of Fiscal Policies and Global Sustainable Development Goals:
A misalignment between a country's fiscal policies and global sustainable development goals can also deter foreign participation in its energy market. For instance, if a country prioritizes domestic energy production over renewable energy development, it may discourage foreign investors and technology providers from participating in its energy market. This can limit the country's access to innovative technologies and investment capital, which can hinder its ability to achieve sustainable development goals.

Guiding Principles of a Sustainable and Rights-Based Approach:
To avoid these unintended consequences and ensure that LCRs contribute to sustainable development, it is important to adopt a sustainable and rights-based approach. This approach focuses on transparency, accountability, gender justice, and other human rights issues. By promoting transparency in the design and implementation of LCRs, stakeholders can ensure that they are fair, equitable, and non-discriminatory.
Accountability is also crucial to ensure that LCRs are implemented effectively and that their benefits are distributed fairly. This includes holding local suppliers and manufacturers accountable for their compliance with LCRs and providing mechanisms for redress if they fail to meet their obligations.
Gender justice is another important aspect of a sustainable and rights-based approach to LCRs. Women and marginalized communities often face discrimination and barriers to participation in the energy sector. By promoting gender equality and inclusivity in LCRs, countries can ensure that these groups have equal access to opportunities and benefits.

Conclusion:
In conclusion, the book titled "Local Content and Sustainable Development in Global Energy Markets" highlights the critical intersections between LCRs and the implementation of sustainable development treaties in global energy markets. While LCRs can have positive impacts on local economic development, their inappropriate design and implementation can lead to negative social, human rights, and environmental outcomes. By adopting a sustainable and rights-based approach, countries can ensure that LCRs contribute to sustainable development while respecting and protecting the rights of all stakeholders.

\n Weight: 800g\n
Dimension: 160 x 236 x 32 (mm)\n
ISBN-13: 9781108495370\n \n