Creating Shared Value in the Oil and Gas and Mining Sectors’ Companies and Communities
The Shared Value Project is pleased to present to you FSG’s newest study, ‘Extracting with Purpose’, published with the Shared Value Initiative. This is a culmination of over a year of in-depth research, and we are eager to collaborate with the Australian oil and gas and mining communities to drive a global conversation around the opportunity for shared value within these sectors.
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, it was 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 specific behaviours:
Extracting with Purpose Workshop, Perth
The Shared Value Project and the University of Western Australia’s Centre for Social Impact hosted a workshop event to explore the topic of creating shared value in the oil and gas and mining sector and in other industry and community settings. Targeted at extractives industry professionals with the opportunity to discuss local case studies and engage with industry experts, the workshop featured:
- Overview of the shared value concept and of the Shared Value Project by Helen Steel
- A review of the newly released FSG report Extracting with Purpose by Ian Satchwell
- Lunch and Q&A
- Australian case studies
- A presentation by Duncan Peppercorn of Social Ventures Australia on How to do Shared Value
- Q&A and networking opportunities
Date: Monday 10 November 2014
Time 11:00am to 2:00pm
Speakers: Professor Paul Flatau UWA CSI, Helen Steel Executive Director, Shared Value Project, Ian Satchwell Director of the International Mining for Development Centre (IM4DC), Duncan Peppercorn Executive Director of SVA Consulting
- Read the full-length report, ‘Extracting with Purpose’
- Read the 10-page executive summary
- Read more from the Shared Value Initiative.
Learn about companies taking action – These extractives companies are tying business success to the prosperity of their host communities.
Extractives Sectors and Society: FSG recognises 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.
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Twitter: Read new research by @FSGTweets: #SharedValue Brings Purpose to #Extractives Sectors http://sharedvalue.org.au/ @SharedValueAust @SVInitiative
Facebook/LinkedIn: New shared value industry study ‘Extracting with Purpose’ provides a pathway for the extractives sectors to deliver positive social outcomes by tying business success to the prosperity of host communities. http://sharedvalue.org.au/
Newsletter/Website: ‘Extracting with Purpose: Creating Shared Value in the Oil and Gas and Mining Sectors’ Companies and Communities’ is a new shared value industry study by the mission-driven consulting firm FSG, published with the Shared Value Initiative, providing a pathway for the extractives sector to deliver shared value—creating positive social outcomes by tying business success to the prosperity of host communities and countries http://sharedvalue.org.au/
Images credits: Shared Value Initiative