Page 19 - BHP | BHP Foundation Booklet 2019

Natural Resource

Governance

The challenge Our approach

Across the world, 1.8 billion people We seek to improve how natural
in resource-rich countries continue resources are governed across
to live in poverty. Corruption and the entire resource value chain
Consultation &
poor governance of the world’s – from initial exploration right Consent Processes
natural resources can divert through to the use of taxes and
much needed funds from critical US 1.5t royalties in providing services
development opportunities, to citizens.
which is denying citizens access
to quality education, healthcare To do this, we bring together Mining for Sustainable Award of Licenses & Contracts
and other essential services. business, government and civil Development
society to collectively address
We are working across the value common challenges aimed at
chain to enhance governance, 50% of the world’s population estimated to be paid in bribes eliminating corruption through Production & Processing
help eliminate corruption and live in countries that rely on by businesses and individuals purposeful transparency and
effect positive change. mineral resource wealth as a each year, which is about 2% effective capacity building.
major part of their economy . 3 of global GDP . We’re also giving citizens and civil
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society organizations meaningful,
practical and accessible information Payment of Taxes From Disclosure
& Royalties
about revenue flows from the to Development
extraction of natural resources
so they can use it to raise standards
and create an evidence base about Open Contracting Budget Management
1.8b Countries
what works to share with others.
in Resource-rich
& Allocation

Leveraging
Citizen Services & Infrastructure
Transparency to
Reduce Corruption
people live in poverty in 20% of foreign bribery cases
resource-rich countries . 5 involve the extractives industry .
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