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By on August 1, 2012 - CSR Blog

The extractive industry generates considerable projects, which directly impact the lives of many people and different stakeholder groups inhabiting nearby areas. In order to ensure trust and respect between a given company and those communities, the development of local social support networks and contribution programs is strongly encouraged, if not compulsory in some cases.

 

Communities, host governments, and lenders – the International Finance Corporation (IFC) for instance – expect extraction companies to invest time and money into special social programs in order to acquire and retain their ‘social licence to operate’. Such community projects require a deep understanding of the social and economic relationships between the extraction project and affected communities in order for the investments to answer genuine needs expressed by beneficiaries.

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