Transparent Governance in Times of Uncertainty: Best Practices and Strategic Proposals for the Extractive Industries

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Jun 2019
Vieyra, Juan Cruz
The extractive industries in Latin America and the Caribbean must regain public trust and ensure its contribution to sustainable development from the economic, social, and environmental perspectives. This publication weighs these challenges against the development of policies aligned with international transparency standards and integrity, as a first step toward improving governance and preventing corruption in the extractive industries. It analyzes experiences and makes recommendations for strengthening the institutions charged with managing and monitoring the sector, harnessing new technologies and encouraging coordination between the government, civil society, and the private sector. The authors present studies that highlight innovative solutions in Argentina, Colombia, and the Dominican Republic and suggest ways to foster the good governance of natural resources based on adopting best practices in three strategic areas: national oil companies, sovereign wealth funds, and regulation of beneficial ownership.