Oil and gas and mining companies operate in some of the most underdeveloped regions on earth. Many of the countries and communities in which they operate face significant challenges in health, education, economic development, and basic infrastructure. 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. While the social imperative is clear, so is the business imperative to improve interactions with host communities: companies lose billions each year to community strife.

In the new FSG research report Extracting with Purpose, we’ve found that there is a clear business imperative to improve societal outcomes. Shared value establishes a framework for identifying opportunities to address societal issues and deliver real business value. But to capture that value, the research finds that companies in these sectors will need to change a number of specific behaviors: 

While the sectors’ downstream products and services create tremendous benefits for society, this report focuses on the upstream—the activities related to extraction—area of the business. This is an important area to investigate due to the magnitude of the opportunities for both business and society and the history of adversarial relationships that exists among companies, host communities and countries, and other stakeholders. For extractives companies, addressing this dynamic and becoming governments’ and communities’ partner of choice—for extraction and for societal development—will be the next competitive advantage.

 

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CASE EXAMPLES

Learn about the companies pursuing opportunities that tie business success to the prosperity of host communities and countries.


PRACTICAL SLIDE DECK

If you work in an extractives company, get started by sharing this executive-ready PowerPoint presentation with your leadership team.


DIAGNOSTIC POLL

How ready is your company to move beyond business as usual? Tell us your pain points and we'll provide you with the resources you need. 

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SHARING GUIDE

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Read New Research

Discover how oil, gas, and mining sectors are creating shared value between companies and communities. Read the Report Read the Summary

Learn About the Companies Taking Action

These extractives companies are tying business success to the prosperity of their host communities. Read Case Examples

Extractives Sectors and Society

We recognize that extractives companies have a history of adverse environmental and social impact. This report assumes that until consensus is reached on reducing dependency on fossil fuels, the industry has the opportunity to improve the societal value of its activities. Behind the Research

Leer el resumen ejecutivo en español

El resumen ejecutivo del estudio Operar con Propósito también está disponible en español. Versión en español