Engaging Parliaments in the accountable and transparent management of natural resource wealth

The oil, gas and mining sectors contribute significantly to government revenues, GDP and export in resource-rich countries. Despite this opportunity for development, many resource-rich countries fail to use the extractive industries sector for wider economic and social development, resulting in higher poverty rates and, in some instances conflict. This is sometimes referred to as the 'resource curse'.
Transparent and accountable governing institutions along with sound regulatory legal frameworks lend to effective resource management. Parliamentarians have a key role to play in supporting the development, implementation and oversight of sound policies concerning the different steps along the 'resource/extractive value chain’.
This brief gives an overview of the role parliament can play in the extractive industries sector, and the ways in which it can contribute to the effective accountability and management of the petroleum and/or mining sectors for long-term sustainable development.  It also offers suggested action steps and general guidelines for parliamentarians.

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