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New index shows extractives governance lacking in some countries

Jaclyn Jaeger | July 18, 2017

Compliance and risk officers in the oil, gas, and mining sectors have a new index by which to compare countries’ natural resource governance efforts. The index also can be used to gauge which countries pose a high risk of corruption in these sectors.

The Natural Resource Governance Institute (NRGI) last month published its Resource Governance Index, comprising 89 sector-specific assessments that together produce 82 percent of the world’s oil, 78 percent of its gas, and a significant proportion of minerals, including 72 percent of all copper. The index assessed a total of 81 countries (in eight countries NRGI assessed more than one sector).

The NRGI’s mission is to support countries’ pursuit of their use of natural resources with the objective of development. “We believe that natural resources must be used, first and foremost, to foster the economic and social development of countries,” Ernesto Zedillo, chair of the NRGI and former president of Mexico, said at a recent... To get the full story, subscribe now.