Beyond transparency: A consideration of extraction's full costs

Area of Science:

• Environmental Science
• Political Science
• Economics

Background:

• International transparency discourse in the extractive sector is examined.
• The persistent association of unaccountable government, socioeconomic injustice, and environmental hazards linked to extractive firms is highlighted.

Purpose of the Study:

• To critically analyze the discourse and practice of transparency within the extractive sector.
• To investigate how transparency regimes are applied to 'host states' in the Global South, such as Nigeria.
• To assess the impact of transparency initiatives on addressing the full costs of extraction.

Main Methods:

• Critical analysis of transparency discourse and regulatory regimes.
• Examination of transparency initiatives in relation to corporate malfeasance and rent-seeking practices.
• Literature review and policy analysis concerning the extractive industries.

Main Results:

• Transparency regimes have been applied to Global South 'host states' like Nigeria, but rarely address corporate malfeasance in the Global North.
• Attention to the full costs of extraction has been overshadowed by global transparency regimes since the turn of the millennium.
• Regulatory capture of states in the Global North by oil and mining interests influences transparency practices.

Conclusions:

• Global transparency discourse, exemplified by the Extractive Industries Transparency Initiative, has largely failed to address the full costs of extraction.
• Rethinking the government of extraction requires moving beyond superficial transparency to address systemic issues of accountability and environmental justice.