The Seven Groups Extractives Companies Must Engage

Author(s)

BSR and Greenbiz

Type of Resource

Online article

Year of Release

2017

Sector

Basic Resources

Regions

Global

Sub Categories

Issues Addressed

General

Objective

Engaging effectively with stakeholder groups can increase a company’s understanding of the likely impacts of its activities, ideally maximizing the benefits of investment while minimizing consequences.

Content

Engaging with the right groups of stakeholders can mean the difference between a successful project with community support and a project with lengthy delays that threaten (or prevent) its existence. In the mining sector, stakeholder engagement is particularly relevant given the close proximity to and impact on local communities through the use of resources such as water, energy and land.

Executives often point to the importance of stakeholder engagement in developing comprehensive social risk management processes. Building relationships with community members can enhance trust and foster local support for a project.

While every company’s specific stakeholders depend on its operating circumstances, mining companies should consider the following groups when developing an engagement strategy. Within these groups, it’s important to include women, the elderly and youth to access a range of perspectives.