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Extractive Industries Initiatives Database

Search for an Initiative » Natural Resource Charter (NRC)

Title
Natural Resource Charter (NRC)
Lead Organization Name
Type
  • Standards
  • Good Practice
  • Technical Assistance
Sector
  • Oil
  • Gas
  • Mining
Lead by
  • Donor
Goal/Objective

For governments to avoid the mismanagement of diminishing natural riches and ensure the realization of their benefits now and in the future.

Value Chain Focus
  • Policy, Legal and Contractual Framework
    • - Sector policy
    • - Sector legislation
    • - Sector regulations
    • - Contracts and Licenses
    • - Geological data and exploration
    • - Local Content
    • - The award of contracts and licenses
    • - Contract negotiations and dispute settlement
  • Sector Organisation and Institutions
    • - Institutional structures and governmental bodies
    • - National Resource Companies
  • Fiscal Design and Administration
    • - Fiscal objectives
  • Revenue Management and Distribution
    • - Managing volatility
    • - Resource funds
    • - Fiscal discipline and sustainability
    • - Revenue sharing
  • Sustainable Development
    • - Effectiveness of government spending
    • - Priority spending areas
Have a mix of stakeholders such as public, private and civil society sectors contributed to the design of the initiative?
Yes
Geographical Focus
  • Global
In-country work
Nigeria
Who is it for?
industrial extractives companies, small-scale extractives companies, host country national governments, host country local governments, international governments, donors, local civil society, international civil society, communities, investors, local private sector, host-country universities, universities, students, parliamentarians
How does the initiative try to reach its objective?

The NRC has three means. These include (a) the guiding principles, supporting guides and technical papers of the 12 precepts (b) training for government officials and oversight actors in resource rich countries (see http://naturalresourcecharter.org/content/training-courses), and (c) the Charter assessment framework, which countries can use as a performance management tool for the good governance and economic management of extractive resource wealth (see http://naturalresourcecharter.org/content/assessment-framework).