Blog- FSG Launches Shared Value in Extractives Research

Aug 5, 2013 10:00 AM ET

FSG Launches Shared Value in Extractives Research

Extractives sectors companies – those in the oil and gas or metals and mining industries – add tremendous value to the world economy, producing the essential inputs for products that improve the lives of billions. They also represent some of the largest companies in the world: the sectors generated $3.5 trillion in annual gross revenues, or around 5 percent of global GDP, in 2012. Eleven of the top 20 companies in the Forbes Global 500 list in 2013 work in the extractives sectors. While the sectors’ potential for negative environmental and social impact is undeniable, so too is their contribution to global economic growth and the development of resource-rich nations. In Nigeria, for instance, fuel exports accounted for 89% of total exports; in Mongolia, a single large-scale mining operation is expected to account for one third of the country’s GDP when at full production, after $10 billion of investment in the project. Effectively using the windfall generated by the industry is the key to economic growth in these countries.

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