BHP Foundation
The BHP Foundation works to address some of the world’s most critical sustainable development challenges. By working in partnership with others, they seek to raise the bar, find new solutions and set new standards for the future. They are a charitable organisation funded by BHP and through their programs address challenges that are directly relevant to the resources sector.
Natural resources are ultimately owned by the citizens of every country in which the resources industry operates. Beneficial ownership transparency is critical to ensuring the revenues generated by the natural resources industry provide maximum benefit to every single citizen. But to be successful it requires governments, industry and civil society to work together – which is why Opening Extractives initiative is so important.
Engagement with the EITI
The BHP Foundation has partnered with EITI and Open Ownership to deliver a new and ambitious global program Opening Extractives, which aims to end the use of anonymous companies linked to corruption and mismanagement in the extractive sector. Commencing in early 2021, Opening Extractives will provide sustained, multi-year support to partner countries to implement reforms to disclose the ownership of extractives companies. It will catalyse the use of this data to support better governance.
Primary research was conducted to inform the Opening Extractives program's design and identified success factors for beneficial ownership. Learn more about the research results in the report: Catalysing transformative change in beneficial ownership transparency.
The BHP Foundation believes that as natural resources are ultimately owned by the citizens of every country in which the resources industry operates, it is critical to ensure these revenues provide maximum benefit to every single citizen.
Strengthening transparency
Through its global Natural Resource Governance Program, the Foundation is investing in projects that aim to improve how natural resources are governed across the entire resource value chain to reduce corruption and ultimately harness the power of natural resource wealth for sustainable and inclusive human development.
The spirit of collaboration is critical to the Foundation, which works in partnership with civil society organisations, governments, international institutions and communities to design and deliver programs that promote responsible governance of natural resource wealth.