License to Drill : A Manual on Integrity Due Diligence for Licensing in Extractive Sectors

Natural resources have the transformational potential to support economic and political stability as well as contribute to national prosperity and economic development. However, in countries dependent upon natural resource sectors, poor management of these sectors often contributes to corruption, il...

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Main Authors:	Votava, Cari L., Hauch, Jeanne M., Clementucci, Francesco
Format:	Handbook
Language:	English
Published:	Washington, DC: World Bank 2018
Subjects:	EXTRACTIVES SECTOR NATURAL RESOURCES INTEGRITY DUE DILIGENCE BACKGROUND CHECKS BENEFICIAL OWNERSHIP CRIMINAL BACKGROUND CHECK CONFLICT OF INTEREST LICENSING CORRUPTION TRANSPARENCY
Online Access:	http://hdl.handle.net/10986/29809

id	okr-10986-29809
recordtype	oai_dc
spelling	okr-10986-298092022-09-20T00:14:27Z License to Drill : A Manual on Integrity Due Diligence for Licensing in Extractive Sectors Votava, Cari L. Hauch, Jeanne M. Clementucci, Francesco EXTRACTIVES SECTOR NATURAL RESOURCES INTEGRITY DUE DILIGENCE BACKGROUND CHECKS BENEFICIAL OWNERSHIP CRIMINAL BACKGROUND CHECK CONFLICT OF INTEREST LICENSING CORRUPTION TRANSPARENCY Natural resources have the transformational potential to support economic and political stability as well as contribute to national prosperity and economic development. However, in countries dependent upon natural resource sectors, poor management of these sectors often contributes to corruption, illicit financial flows (IFFs) and thus, poverty. Adequate transparency and accountability in regulatory management of these sectors is a challenge for resource rich countries. Poor licensing decisions in natural resource management can open a pandora’s box of corruption risks. This manual provides methods and options based on good practices to improve transparency, accountability, and integrity in the regulatory licensing process and integrity due diligence. The manual borrows models from the Basel Core Principle ‘fit and proper’ concept, and provides options for conducting effective (a) beneficial ownership; (b) criminal/legal; and (c) conflicts of interest checks, with a goal of integrating these into the regulatory licensing process. The manual also identifies common legal framework defects that can facilitate corruption risks, and offers options based on principles of regulatory integrity to reduce these risks. The good practices identified can help countries allocate limited financial resources in conducting thorough background checks in a cost-effective manner, as well as meet EITI’s requirements for public disclosure of beneficial owners and politically exposed persons. These strategies for reducing opportunities for corruption in extractive sectors can help reduce IFFs that can sap resources from the economy and inhibit a country’s ability to achieve the Sustainable Development Goals. 2018-05-10T21:47:15Z 2018-05-10T21:47:15Z 2018-06-22 Handbook 978-1-4648-1271-2 http://hdl.handle.net/10986/29809 English International Development in Practice; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research Publications & Research :: Publication
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	EXTRACTIVES SECTOR NATURAL RESOURCES INTEGRITY DUE DILIGENCE BACKGROUND CHECKS BENEFICIAL OWNERSHIP CRIMINAL BACKGROUND CHECK CONFLICT OF INTEREST LICENSING CORRUPTION TRANSPARENCY
spellingShingle	EXTRACTIVES SECTOR NATURAL RESOURCES INTEGRITY DUE DILIGENCE BACKGROUND CHECKS BENEFICIAL OWNERSHIP CRIMINAL BACKGROUND CHECK CONFLICT OF INTEREST LICENSING CORRUPTION TRANSPARENCY Votava, Cari L. Hauch, Jeanne M. Clementucci, Francesco License to Drill : A Manual on Integrity Due Diligence for Licensing in Extractive Sectors
relation	International Development in Practice;
description	Natural resources have the transformational potential to support economic and political stability as well as contribute to national prosperity and economic development. However, in countries dependent upon natural resource sectors, poor management of these sectors often contributes to corruption, illicit financial flows (IFFs) and thus, poverty. Adequate transparency and accountability in regulatory management of these sectors is a challenge for resource rich countries. Poor licensing decisions in natural resource management can open a pandora’s box of corruption risks. This manual provides methods and options based on good practices to improve transparency, accountability, and integrity in the regulatory licensing process and integrity due diligence. The manual borrows models from the Basel Core Principle ‘fit and proper’ concept, and provides options for conducting effective (a) beneficial ownership; (b) criminal/legal; and (c) conflicts of interest checks, with a goal of integrating these into the regulatory licensing process. The manual also identifies common legal framework defects that can facilitate corruption risks, and offers options based on principles of regulatory integrity to reduce these risks. The good practices identified can help countries allocate limited financial resources in conducting thorough background checks in a cost-effective manner, as well as meet EITI’s requirements for public disclosure of beneficial owners and politically exposed persons. These strategies for reducing opportunities for corruption in extractive sectors can help reduce IFFs that can sap resources from the economy and inhibit a country’s ability to achieve the Sustainable Development Goals.
format	Handbook
author	Votava, Cari L. Hauch, Jeanne M. Clementucci, Francesco
author_facet	Votava, Cari L. Hauch, Jeanne M. Clementucci, Francesco
author_sort	Votava, Cari L.
title	License to Drill : A Manual on Integrity Due Diligence for Licensing in Extractive Sectors
title_short	License to Drill : A Manual on Integrity Due Diligence for Licensing in Extractive Sectors
title_full	License to Drill : A Manual on Integrity Due Diligence for Licensing in Extractive Sectors
title_fullStr	License to Drill : A Manual on Integrity Due Diligence for Licensing in Extractive Sectors
title_full_unstemmed	License to Drill : A Manual on Integrity Due Diligence for Licensing in Extractive Sectors
title_sort	license to drill : a manual on integrity due diligence for licensing in extractive sectors
publisher	Washington, DC: World Bank
publishDate	2018
url	http://hdl.handle.net/10986/29809
_version_	1764470434490744832

License to Drill : A Manual on Integrity Due Diligence for Licensing in Extractive Sectors

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