NEWS
03.07.06
Positive response to ICMM's Resource Endowment initiative
ICMM's Resource Endowment initiative was put under the spotlight on 29 June at a multi-stakeholder luncheon in Washington D.C., hosted by the Brookings Institution.
Attendees at the meeting were invited to discuss the findings of a two year policy research review designed to pinpoint factors that enable positive socio-economic outcomes from mining investment at both national and local levels. The review confirms the importance of sound macro-economic and legal frameworks to encourage investment, followed by enhancing local supply chains and other employment initiatives, plus co-ordinated government programs to produce broad-based community benefits.
The review's findings received wide support among some 40 attendees, including representatives from governments, international banks, labour organization and NGOs.
The Brookings Institution paid tribute to ICMM "that there was such sincere admiration and support for the work from very diverse perspectives around the table." A number of follow-up actions were discussed, including setting up a permanent platform for multi-stakeholder dialogue and using such institutions as universities, banks, business schools and think tank networks to disseminate findings.
Led by Anglo American's Sir Mark Moody-Stuart and ICMM Secretary General Paul Mitchell, the ICMM team also met World Bank and IFC representatives for a discussion which focused around governance, corruption and transparency. World Bank president Paul Wolfowitz described the Resource Endowment initiative as "enormously important" and said he would like to work with ICMM to develop an agenda of actions.
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SUSTAINABLE DEVELOPMENT FRAMEWORK
Principle 09:
Contribute to the social, economic and institutional development of the communities in which we operate
Principle 01:
Implement and maintain ethical business practices and sound systems of corporate governance.
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