Extractive industries (oil, gas, and mining) and energy projects leave heavy environmental and social footprints both locally and globally, often causing irreversible damage to land, water, and community infrastructure, and contribute to greenhouse gas emissions. They typically involve large-scale investments in such projects as hydroelectric dams, gas and oil extraction and transport, and coal and mineral mines.
Many civil society groups argue that the risks of these activities are disproportionately borne by the populations of developing countries while the rewards consistently accrue to corporations and consumers in developed states. In addition, some argue that the promotion of extractive industries has fueled a detrimental dependence on commodity exports in many countries of the Global South.
Because of the significant impacts resulting from energy and extractive industries, BIC’s regional and policy programs are involved in monitoring IFI involvement in these sectors. BIC's activities include:
- Helping local partners track and influence decisions regarding energy and extractive industry projects in their countries and regions
- Engaging directly with the IFIs to promote adherence to environmental and social safeguards and monitors their implementation in specific projects
- Working with local and international civil society organizations concerned with energy access for the poor
- Emphasizing the pursuit of small-scale, decentralized, renewable energy alternatives to the large-scale energy projects that frequently receive IFI support
- BIC is also a major advocate of transparency in extractive industry revenues and contracts, and is a member of the Publish What You Pay (PWYP) USA Coalition
Download the latest list of past, current and proposed extractive industries and energy projects in your region on BIC's IFI Extractive and Energy Project Spreadsheets page.