A New Purpose for Oil and Gas and Mining Sectors
Extractives companies benefit when they tie business success to social good.
Oil and gas and mining companies operate in some of the most underdeveloped regions on earth. Meanwhile, the extractives sectors present an opportunity for social change on a massive scale: Five of the world’s twenty biggest companies operate in these sectors, and they lose billions each year to strife in host countries and communities.
Extracting with Purpose, a new study by the mission-driven consulting firm FSG, published with the Shared Value Initiative, provides a pathway for the extractives sector to deliver shared value—creating positive social outcomes by tying business success to the prosperity of host communities and countries.
After extensive interviews with hundreds of individuals, the research identifies several ways to create shared value in the sector. Here are just a few of the ways innovative companies use the shared value framework:
- Building local markets for byproducts created by extractive activity
- Improving local workforce capabilities
- Developing local operating environments supporting the extractives sectors
Visit http://sharedvalue.org/extractives to learn more:
- Read the full report or this 10-page summary.
- Read case examples from Anglo American, Chevron, and more.
- Use this slide deck or this diagnostic poll with extractives sectors leaders.
- Use this sharing guide for tweets, graphics, and tools to share this research.
