/ Human rights, a challenge for the extractive industry
Opinion Column - 01/10/2015
Human rights, a challenge for the extractive industry
This paper aims at giving an insight on the exposure of the Extractive Industry (Energy & Mining sector) to human rights allegations.
The extractive industries, and more specifically the mining sector is one of the sectors which are most exposed to human rights violations. The extraction of minerals or raw materials by mining companies has exacerbated conflict in numerous countries around the world. Academic studies point to a strong correlation between dependence on natural resources and increased risk of conflict in developing countries. One World Bank study found that if 25% or more if GDP is derived from primary commodity exports, the risk of civil war jumps to around 30%. The World Bank’s Extractive Industries Review found that “the large economic rents generated by extractive industries may help provoke or prolong civil conflict. Indigenous people are particularly vulnerable”.
Business Behavior, ESG, Human Rights, Rating, World