Corporate Social Responsibility Challenges in the Extractive Industry: A Summary

Abstract

The concept of corporate social responsibility is of the utmost importance when developing relationships between businesses and the communities in which they are based. By engaging in corporate social responsibility (CSR) activities, businesses and the communities in their immediate neighbourhood can foster an environment conducive to peaceful coexistence. The need for CSR has been felt during the COVID-19 pandemic. The COVID-19 outbreak has presented a unique opportunity for governments and mining companies to rethink their priorities for achieving their continent’s socioeconomic goals. The conventional approach is out of the question. Before the coronavirus pandemic, there had been much violence, greed, inequality, exploitation, and tyranny. Today, there is a shared obligation between governments and mining companies to learn from the industry’s past mistakes and create a new “normal” that puts the safety of workers and the public first. Now, more than ever, countries need to do bigger and deeper reforms to build fast-growing economies that everyone can participate in. Like any other business, mining firms are responsible for addressing the human rights and environmental concerns of their employees and the communities in which they are based and operate. This includes incorporating nonexploitative practices into their business models. Therefore, this chapter summarises the corporate social responsibility challenges in the extractive industry.