Governance of Extractive Resources

Governance of extractive resources refers to the systems, policies, and institutions responsible for managing the exploration, extraction, and use of natural resources like minerals, oil, and gas. Effective governance ensures these resources are developed responsibly, profits benefit the broader community, and environmental and social impacts are minimized. It involves transparent decision-making, fair distribution of revenues, regulation to prevent abuse, and accountability. Good governance helps prevent corruption, promotes sustainable development, and ensures that resource wealth contributes to long-term economic stability and improved living standards for all citizens.