Unlocking Data Innovation for Social License in Natural Resources
This discussion paper is a product of the from disclosure to development (D2D) program, led by the sustainable infrastructure advisory team of the International Finance Corporation (IFC) The program, launched in 2017, is funded by the BHP Foundation and implemented in collaboration with the World Bank. It builds on more than a decade of IFC and World Bank experience in natural resources transparency and open data. The program's goal is to enhance benefit sharing with communities from investment in natural resources through effective disclosure and data use practices. D2D develops and tests new approaches, partnerships, and platforms aimed at improving the ways in which companies and governments disclose data, so that communities and other stakeholders can use it to inform their decisions and actions. The social license to operate (SLO) refers to the ongoing acceptance of a company or industry's standard business practices and operating procedures by stakeholders, local communities, and the general public. Transparency and community engagement can also create the foundations for developing proactive systems for companies to recognize and address community concerns and create tangible programs to improve planning with host communities, governments, and civil society. The goal is to establish social value that is measurable and verifiable and emphasizes the issues that matter to different groups of stakeholders.