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2. Green Foreign Direct Investment In Developing Countries
- Author:
- Columbia Centre on Sustainable Investment
- Publication Date:
- 10-2017
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- The message is by now clear: our global economy must be fundamentally reoriented and redeployed in order to achieve the SDGs and the commitments of the Paris Climate Agreement. This requires action by all stakeholders, including non-financial and financial firms, debt and equity investors, government policymakers, and consumers. In terms of the amount of money required, it has been estimated that meeting the SDGs will require $5 to $7 trillion annually, with investment needs for developing countries amounting to roughly $3.3 to $4.5 trillion per year. While a big picture view of and strategic thinking regarding the entire economic ecosystem is necessary to generate such investments, this paper, produced in conjunction with the UN Inquiry into the Design of a Sustainable Financial System, focuses on the actual and potential role of one type of financial flow—FDI—in achieving the transition to a low-carbon, just and sustainable world and, more specifically, FDI flows into developing countries.
- Topic:
- International Political Economy and Climate Finance
- Political Geography:
- Global Focus
3. Designing a Legal Regime to Capture Capital Gains Tax on Indirect Transfers of Mineral and Petroleum Rights: A Practical Guide
- Author:
- Columbia Centre on Sustainable Investment
- Publication Date:
- 10-2017
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- When a local asset (or a right relating to such asset) is sold, a country will generally have jurisdiction to levy a capital gains tax on the sale, both under domestic law and international treaty. This is called taxation of a “direct” transfer of a local asset. However, taxation becomes increasingly complicated when a company located offshore owns the local asset. Further difficulties arise when the local asset is held by a chain of corporations located in tax havens. An “indirect” transfer occurs when the shares of the domestic subsidiary, the shares of the foreign company with a branch in the country, or the shares of the holding company are sold, instead of the asset.
- Topic:
- International Political Economy
- Political Geography:
- Global Focus
4. Conference Report: Climate Change and Sustainable Investment in Natural Resources: From Consensus to Action
- Author:
- Columbia Centre on Sustainable Investment
- Publication Date:
- 03-2017
- Content Type:
- Special Report
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- A conference report on CCSI’s Conference on “Climate Change and Sustainable Investment in Natural Resources: From Consensus to Action” is available here, and a shorter outcome document , which was disseminated at COP22, is available here. These documents summarize the discussions at the eleventh annual Columbia International Investment Conference, which took place on November 2-3, 2016, at Columbia University. The Conference offered a high-level opportunity to discuss how countries can reduce their greenhouse gas emissions in accordance with the Paris Agreement, while also advancing the Sustainable Development Goals, and in particular the important implications for the world’s approach to natural resource investments. It featured leaders from government, the private sector, civil society, and academia, and brought together nearly 400 participants. In the lead-up to the Conference, CCSI also published a Blog Series on the Earth Institute’s State of the Planet Blog.
- Topic:
- Climate Change and International Political Economy
- Political Geography:
- Global Focus
5. Linkages to the Resource Sector: The Role of Companies, Governments, and International Development Cooperation
- Author:
- Columbia Centre on Sustainable Investment
- Publication Date:
- 07-2016
- Content Type:
- Special Report
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- With support from GIZ, CCSI prepared a report titled “Linkages to the Resource Sector: The Role of Companies, Governments, and International Development Cooperation.” It outlines options for how these stakeholders can increase the economic linkages to the extractive industries sector not only in terms of ‘breadth’ (number of linkages) but also in terms of ‘depth’ (local value added). Apart from providing the theoretical framework for linkage creation and an overview of existing literature on this topic, the study highlights successful case study examples. Recommendations are provided for the three types of stakeholders.
- Topic:
- Government, International Political Economy, and Natural Resources
- Political Geography:
- Global Focus
6. Investment Treaties and Industrial Policy: Select Case Studies on State Liability for Efforts to Encourage, Shape and Regulate Economic Activities in Extractive Industries and Infrastructure
- Author:
- Lise Johnson
- Publication Date:
- 02-2014
- Content Type:
- Special Report
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- This paper, prepared in connection with a February 2014 conference organized by the UN Economic Commission for Africa, discusses some of the implications that investment treaties have for investments in infrastructure and the extractive industries. It focuses on liability for government conduct (1) in connection with tenders and negotiations; (2) when responding to questions regarding the legality of the investment; (3) in using performance requirements to leverage benefits and capture spillovers from the investment; (4) changing the legal framework governing an investment in response to evolving needs, circumstances, and interests; (5) administering the investment; and (6) requesting, and responding to requests for, renegotiation. After describing some investment treaty disputes, this paper concludes by outlining options for addressing and minimizing tensions between investment treaties and government policies and practices in these areas.
- Topic:
- International Political Economy and Foreign Direct Investment
- Political Geography:
- Global Focus
7. Responsible business conduct: Re-shaping global business
- Author:
- John Evans
- Publication Date:
- 11-2011
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- The Guidelines for Multinational Enterprises of the Organisation for Economic Co-operation and Development (OECD) is the Organisation's flagship instrument for responsible business conduct. The Guidelines provide non-binding recommendations to multinational enterprises (MNEs), drawn up and implemented by governments. Updated in 2011, they consist of principles and standards in such areas as sustainable development, governance, disclosure, human rights, employment and industrial relations, the environment, anti-corruption, consumer interests, and taxation. The 42 adhering governments are required to promote the Guidelines and to contribute to the resolution of issues arising under the Guidelines, including by setting up a complaints mechanism -- “National Contact Points” (NCPs) -- to which trade unions and non-governmental organizations (NGOs) are able to submit specific instances concerning alleged breaches of the Guidelines.
- Topic:
- Globalization, International Organization, International Political Economy, Markets, Foreign Direct Investment, and Governance
8. Political risk insurance and bilateral investment treaties: a view from below
- Author:
- Lauge Skovgaard Poulsen
- Publication Date:
- 08-2010
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Many of the risks covered by bilateral investment treaties (BITs) are also covered by political risk insurance (PRI). Although there are important differences between PRI and BITs, both in terms of coverage and underlying purpose, the considerable overlap between the two instruments suggest that PRI providers should take BITs into account when assessing the risk of investment projects. But while the relationship between BITs and PRI has often been alleged to be considerable, in practice there is practically no publicly available evidence to sustain this assumption. This Perspective reviews evidence from a recent survey of officials in private and public (or mixed private/public) PRI providers.
- Topic:
- Economics, International Political Economy, International Trade and Finance, Treaties and Agreements, and Bilateral Relations
9. How BRIC MNEs deal with international political risk
- Author:
- Premila Nazareth Satyanand
- Publication Date:
- 05-2010
- Content Type:
- Policy Brief
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Hitherto, political risk has worried developed country multinational enterprises (MNEs) investing in developing country markets. But as more emerging market firms invest overseas, they too must grapple with this subject. World Investment and Political Risk 2009 looks at this issue for the first time and finds that Brazilian, Russian, Indian, and Chinese (BRIC) firms appear to worry more about political risk than global counterparts. Though these results are based on as mall sample of 90 of the largest BRIC investors, they are thought-provoking nonetheless.
- Topic:
- International Political Economy, International Trade and Finance, and Foreign Direct Investment
- Political Geography:
- Russia, China, India, and Latin America
10. Indian FDI falls in global economic crisis: Indian multinationals tread cautiously
- Author:
- Jaya Prakash Pradhan
- Publication Date:
- 08-2009
- Content Type:
- Working Paper
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- Just over a year ago, outward foreign direct investment (OFDI) from India seemed to be on a path of rapid and sustained growth. Its annual average growth of 98% during 2004–07 had been unprecedented , much ahead of OFDI growth from other emerging markets like China (74%), Malaysia (70%), Russia (53%), and the Republic of Korea (51%), although from a much lower base. Much of this recent growth had been fuelled by large-scale overseas acquisitions, however, and it faltered when the global financial crisis that started in late 2007 made financing acquisitions harder.
- Topic:
- Economics, International Political Economy, International Trade and Finance, Markets, Foreign Direct Investment, and Financial Crisis
- Political Geography:
- Russia, China, South Asia, Malaysia, and Korea
11. The growth of Brazil's direct investment abroad and the challenges it faces
- Author:
- Luís Afonso Lima and Octavio de Barros
- Publication Date:
- 08-2009
- Content Type:
- Working Paper
- Institution:
- Columbia Center on Sustainable Investment
- Abstract:
- The internationalization of Brazilian companies is a relatively recent phenomenon. From 2000 to 2003, outward foreign direct investment (OFDI) averaged USD 0.7 billion a year. Over the four-year period 2004−2008, this average jumped to nearly USD 14 billion. In 2008, when global FDI inflows were estimated to have fallen by 15%, OFDI from Brazil almost tripled, increasing from just over USD 7 billion in 2007 to nearly USD 21 billion in 2008 (annex figure 1 below). Central Bank data put the current stock of Brazilian OFDI at USD 104 billion, an increase of 89% over 2003. Caution is in order about these figures, however, as in Brazilian outflows it is difficult to separate authentic FDI from purely financial investment under the guise of FDI. According to the most recent data, 887 Brazilian companies have invested abroad
- Topic:
- Development, Economics, International Political Economy, International Trade and Finance, Markets, and Foreign Direct Investment
- Political Geography:
- Brazil and Latin America