The Strategic Role of State Assets – Reframing the Privatisation Debate | February 2012 collective interest of consumers. Full transparency is paramount and there should be nothing a monopolist or utility operator can hide from the public, as these are businesses of clear public interest. 2.22 The recommendation of the Review Group that responsibility for regulatory oversight and the semi-state shareholder function should not reside within the same Government Department is sound and should be acted upon. 2.23 The shareholder function should be separated from the regulatory function. Regulatory oversight should be the responsibility of the Department of Enterprise. Control of the regulators’ receipts and expenditures should reside with the Department of Finance and this budget should be allocated annually as part of voted expenditure.
Environmental considerations Sustainable development 2.24 Sustainability is not just a necessity in a world at the point of peak oil production, with dwindling resources; sustainability offers an opportunity to refocus human ingenuity on new areas, to provide green jobs, while also placing the focus on reorganising the economy to raise everyone’s quality of life. 2.25 Sustainable development can mean different things to different people, but a commonly used definition identified by the Brundtland report (1987) and used by the European Council is “that the needs of the present generation should be met without compromising the ability of future generations to meet their own needs.”15 While notions such as strong or weak sustainability may occupy researchers, policy makers, and environmentalists, most proponents recognise that equality, poverty reduction, social and cultural cohesion and democracy are both aims and prerequisites for sustainable development. They also recognise that economic and social development is dependent on “a healthy and functioning environment”.16 2.26 Sustainable development is about safeguarding the earth's capacity to support life in all its diversity and is based on the principles of democracy, gender equality, solidarity, the rule of law and respect for fundamental rights, including freedom and equal opportunities for all. It aims at the continuous improvement of the quality of life and well-being on Earth for present and future generations. To that end it promotes a dynamic economy with full employment and a high level of education, health protection, social and territorial cohesion and environmental protection in a peaceful and secure world, respecting cultural diversity.17 2.27 Some aspects of environmental protection are already contained in separate pieces of environmental legislation, especially at the European level. Policy aims such as social and 15
Council of the European Union, Review of the EU Sustainable Development Strategy (EU SDS): Renewed Strategy, Brussels, 26 June 2006 16
Comhar the Sustainable Development Council, (SDC). Comhar, (SDC), has developed a list of principles for sustainable development, for use in policy development. http://www.comharsdc.ie/sustainable_development/index.aspx, accessed 22 June 2011 17
Council of the European Union, Review of the EU Sustainable Development Strategy (EU SDS): Renewed Strategy, Brussels, 26 June 2006
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